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SEBI has modified the internal audit team composition requirements for Credit Rating Agencies (CRAs). The circular expands eligible professional qualifications to include Cost Accountants (ACMA/FCMA) alongside Chartered Accountants (ACA/FCA) and adds Diploma in Information System Security Audit (DISSA) to existing information systems auditor credentials. The modification provides CRAs with a broader pool of qualified professionals for conducting internal audits. The circular is effective immediately, issued under SEBI's statutory powers to protect investor interests and regulate securities markets, specifically invoking Section 11(1) of the SEBI Act and Regulation 20 of SEBI (Credit Rating Agencies) Regulations, 1999.
SEBI has modified the internal audit team composition requirements for Credit Rating Agencies (CRAs). The circular expands eligible professional qualifications to include Cost Accountants (ACMA/FCMA) alongside Chartered Accountants (ACA/FCA) and adds Diploma in Information System Security Audit (DISSA) to existing information systems auditor credentials. The modification provides CRAs with a broader pool of qualified professionals for conducting internal audits. The circular is effective immediately, issued under SEBI's statutory powers to protect investor interests and regulate securities markets, specifically invoking Section 11(1) of the SEBI Act and Regulation 20 of SEBI (Credit Rating Agencies) Regulations, 1999.
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