SEBI extends timelines to conduct annual compliance audits by investment advisors
- News|Blog|Company Law|
- < 1 minute
- By Taxmann
- |
- Last Updated on 18 July, 2024
Latest from Taxmann
Circular No. SEBI/HO/IMD/IMD-I/DOF1/P/CIR/2021/632, Dated, 30-09-2021
SEBI has extended the timeline to conduct an annual compliance audit by investment advisors by 3 months. SEBI had earlier received representations from Investment Advisers (IAs ) seeking extensions due to the Covid -19 pandemic. For the financial year ending March 31, 2021, IAs are now required to conduct the annual compliance audit by December 31, 2021, Also, the date for obtaining a certificate from an auditor has been extended till December 31, 2021.
Earlier, vide Circular No. SEBI/HO/IMD/DF1/CIR/P/2020/182 dated September 23, 2020, SEBI, had a prescribed timeline of six months from the end of each financial year for investment Advisers (IA) to conduct an annual audit in respect of compliance of with SEBI (Investment Advisers) Regulations, 2013. Further, a timeline of one month from the date of the audit report but no later than October 31st of each year was prescribed for submitting adverse findings of such audit, if any, for the previous financial year starting with the financial year ending March 31, 2021. The circular further specified a timeline of 6 months from the end of the financial year for the IAs to obtain an annual certificate from an auditor confirming compliance with the client level segregation requirements as specified in Regulation 22 of the IA Regulations
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
