SEBI Expands Audit Eligibility for Credit Rating Agencies
SEBI has updated the audit eligibility criteria for Credit Rating Agencies, expanding the list of professionals who can be part of the audit team. The requirements now include both Chartered and Cost Accountants, along with certain certified information system auditors, to enhance inclusivity.
- Country:
- India
The Securities and Exchange Board of India (SEBI) has broadened the eligibility criteria for professionals on audit teams at Credit Rating Agencies (CRAs). This move seeks to incorporate a more diverse range of professional backgrounds.
Previously, CRA audit teams were mandated to include a Chartered Accountant and a Certified Information Systems Auditor or equivalent qualifications. However, SEBI's latest directive approves the inclusion of either a Chartered Accountant or a Cost Accountant, alongside an information systems security auditing professional with credentials like CISA, DISA, or DISSA.
The updated regulations are effective immediately, allowing for increased flexibility in the composition of CRA audit teams, and aiming to improve the robustness and inclusivity of auditing processes.
(With inputs from agencies.)
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