Clarification regarding eligibility of members of the Institute of Cost Accountants of India to conduct annual audit of Investment Advisers

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....y Body (IAASB) Madam/ Sir, Subject: Clarification regarding eligibility of members of the Institute of Cost Accountants of India to conduct annual audit of Investment Advisers 1. SEBI vide Master Circular for Investment Advisers dated February 06, 2026 [Cir. no. HO/38/12/11(2)2026-MIRSD-POD/I/4300/2026 dated February 6, 2026] ('Master Circular'), has provided a consolidated document conta....

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....ountants of India to conduct annual audit of IAs. 4. Accordingly, the paragraph 31.2 of Chapter VII of the Master Circular, shall be replaced with the following: "To conduct annual audit and submit a report and adverse findings, if any In terms of regulation 19(3) of the IA Regulations, IA is required to conduct an annual audit in respect of compliance with the IA Regulations ....

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.... compliance with the client level segregation requirements as specified in Regulation 22 of the IA Regulations. Such annual certificate shall be obtained within 6 months of the end of the financial year and form part of compliance audit, in terms of Regulation 19(3) of the IA Regulations." 6. The provisions of this circular shall be applicable from the date of issue of this circular. 7. This....