Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
SEBI introduced a technology-based framework for monitoring system audits of stock brokers, effective FY 2025-26. The framework mandates stock exchanges to develop web portals for supervising the audit lifecycle, including geo-location tracking of auditor visits. Key requirements include standardized audit templates, empanelment criteria for auditors, and enhanced verification of technical compliance. Auditors must conduct physical premises visits, verify critical IT infrastructure, and submit comprehensive reports through the portal. A cooling-off period of 2 years is required after three consecutive years of audit. Stock exchanges must implement financial disincentives for non-compliance and submit half-yearly audit summaries to SEBI. The framework aims to strengthen supervision and minimize technology risks in securities trading.
SEBI introduced a technology-based framework for monitoring system audits of stock brokers, effective FY 2025-26. The framework mandates stock exchanges to develop web portals for supervising the audit lifecycle, including geo-location tracking of auditor visits. Key requirements include standardized audit templates, empanelment criteria for auditors, and enhanced verification of technical compliance. Auditors must conduct physical premises visits, verify critical IT infrastructure, and submit comprehensive reports through the portal. A cooling-off period of 2 years is required after three consecutive years of audit. Stock exchanges must implement financial disincentives for non-compliance and submit half-yearly audit summaries to SEBI. The framework aims to strengthen supervision and minimize technology risks in securities trading.
Note: It is a system-generated summary and is for quick reference only.
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