- The requirements of filing Form A/ Form B along with the annual financial results has been dispensed with.
- From now on, instead of these Forms, in case of Audit Reports with modified opinions (i.e. Qualified Audit Reports), a Statement on Impact of Audit Qualifications is needed to be submitted.
- The management of the listed entity shall have the option to explain its views on the audit qualifications
- Where the impact of the audit qualification is not quantified by the auditor, the management shall make an estimate. In case the management is unable to make an estimate, it shall provide reasons for the same. In both the scenarios, the auditor shall review and give the comments.
- Further, the said Statement is also needed to be given in the Company’s Annual Reports.
- The said Statement of Impact shall be reviewed by the concerned Stock Exchange.
- Further, in case of audit reports with unmodified opinion(s), the listed entity shall furnish a declaration to that effect to the Stock Exchange while publishing the annual audited financial results.
- Schedule VIII of the LODR Regulations has been deleted.
- These requirements are applicable for both listed equity shares and also listed NCDs/ NCRPSs.
- In case of non compliance with the requirements of this Circular, the Stock Exchange may take such action, as they deem fit.
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Official Blog Fema India Experts Connect with our Facebook Page:- Click and Like our Page Subscribe our Email updates like other 21,000 Members, Free/Easy/Comfortableway
