The Institute of Company Secretaries of India (ICSI) recently constituted a Task Force on Audit/ Due Diligence/Compliance of SEBI Laws in compliance with the recommendation of Financial Services Committee appointed by it to look after financial services as dedicated area of focus and amongst others, to formulate views / suggestions on various financial services related matters.
A recent communication issued by the ICSI President stated that “the Committee had suggested that SEBI law compliances need to be independently checked and verified, in detail, periodically with observations on compliance level with reasons for lapses, if any and action plan to prevent recurrence of lapses.”
“In this direction, ICSI has constituted an Expert Task Force on Audit/ Due Diligence/Compliance of SEBI Laws.” It also provided the details of the members of Task Force which is chaired by Mr. J N Gupta, Former Executive Director, SEBI and other seven members.
The main functions entrusted with the Task Force is to study in detail proposition of an exhaustive compliance audit / due diligence mechanism on SEBI law applicable to listed entities and work out the modalities for such audit/diligence and lay down a reporting format.
The communication invites suggestions/ comments from Stakeholders at khusbu.mohanty@icsi.edu. The suggestions will be considered by the Task Force.
Read the Communication here.
