SEBI Updates Audit Procedures for Listed Entities: New Formats and Compliance Effective April 2019 Under Amended Regulation 33.

The Securities and Exchange Board of India (SEBI) issued a circular detailing procedures and formats for limited reviews and audit reports of listed entities and their consolidated accounts. Effective April 1, 2019, statutory auditors must conduct limited reviews of all entities consolidated with a listed entity, as per the amended Regulation 33 of the SEBI LODR Regulations. The circular provides specific procedures and standardized formats for audit and review reports, replacing previous formats. It mandates compliance with auditing standards issued by the Institute of Chartered Accountants of India (ICAI) and requires stock exchanges to inform listed entities of these changes.

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