Auditor appointment powers allow qualified auditors to inspect portfolio managers with full inspection powers and corresponding compliance duties. Regulation 40 permits the Board to appoint a qualified auditor, in addition to an inspecting authority, to inspect or investigate a portfolio manager's ... Summary
Securities and Exchange Board of India (Portfolio Managers) Regulations, 2026
Auditor appointment powers allow qualified auditors to inspect portfolio managers with full inspection powers and corresponding compliance duties.
Regulation 40 permits the Board to appoint a qualified auditor, in addition to an inspecting authority, to inspect or investigate a portfolio manager's books of account or affairs. The appointed auditor has the same powers as the inspecting authority under regulation 35, and the portfolio manager must comply with the obligations under regulation 37 during the auditor's inspection or investigation.
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