Annual systems audit requirement mandates exchanges to commission independent comprehensive audits and submit reports to the regulator. Annual Systems Audit requires all stock exchanges to engage an independent reputed auditor annually to conduct a comprehensive audit covering Trading Systems, Clearing and Settlement Systems, Risk Management, Databases, Disaster Recovery Sites, Business Continuity Planning, Security, Capacity Management and Information Security, with the Systems Audit Report and Compliance Status to be placed before the Governing Board and communicated, with findings and comments, to the regulator.