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<h1>Stock brokers and members must undergo a bi-annual internal audit by independent professionals; exchanges to update rules and report to SEBI.</h1> Stock brokers, trading members, and clearing members are now required to conduct a complete internal audit every six months. This audit must be performed by chartered accountants, company secretaries, or cost and management accountants who are in practice and free from conflicts of interest. Stock exchanges must amend their bye-laws, rules, and regulations to implement this decision, notify member brokers and clearing members, and publish the information on their websites. Additionally, exchanges must report the implementation status to SEBI in the Monthly Development Report. Other provisions of the previous circular remain unchanged.