Procedure and formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entity
SEBI Circular No. CIR/CFD/CMD1/80/2019 dated July 19, 2019 —
1. SEBI, on March 29, 2019 issued a Circular No. CIR/CFD/CMD1/44/2019 on the captioned subject. Annex 2 to the said circular contains the formats for audit report and limited review report.
2. Subsequent to the issue of said circular, the Institute of Chartered Accountants of India (ICAI) informed SEBI that ICAI has now revised the SA 700 based on which Exhibits C2, B2, C4, B4, C5 and B5 of Annex 2 to the said circular were issued. Accordingly, the aforementioned audit report formats need to be aligned with SA 700 (Revised).
3. Further, ICAI has also suggested certain updates with respect to the limited review report (i.e. Exhibits C1 and B1 of Annex 2 to the said circular).
4. In partial modification of the said Circular, Exhibits C1, B1, C2, B2, C4, B4, C5 and B5 of Annex 2 to the said Circular shall be replaced by Exhibits C1, B1, C2, B2, C4, B4, C5 and B5 of Annex 1 to this Circular.
5. This Circular shall be applicable with respect to the financial results for the quarter ending September 30, 2019 and after.
6. The Stock Exchanges are advised to bring the provisions of this circular to notice of the listed entities and disseminate it on their websites.
7. The circular is issued in exercise of the powers conferred under sections 11 and 11A of the Securities and Exchange Board of India Act, 1992 read with regulations 33(8) and 101 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
8. The circular is available on SEBI website under the category 'Legal → Circulars'.
ANNEX 1 (along with EXHIBITS thereto) which is a part of this circular, is available at:
SEBI portal >> Legal >> Circulars >> Jul 19, 2019 Procedure and formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entity.