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Sunday, August 24, 2008

[SEBI] Internal Audit for stock brokers/clearing members by Chartered Accountant

Stock Broker / Clearing Members to carry out COMPLETE INTERNAL AUDIT on HALF YEARLY BASIS by Independant Qualified CHARTERED ACCOUNTANTS.

The first such audit period should be from October 1, 2008 to March 31, 2009.

The scope of such audit shall cover, inter alia,
1. The existence, scope and efficiency of Internal Control System;
2. Compliance with the provisions of,
a. SEBI Act, 1992; b. Securities Contracts (Regulation) Act 1956; c. SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992.
3. Compliance of circulars issued by SEBI, agreements, KYC requirements & Bye-Laws of the Exchanges;
4. Data security and insurance in respect of the operations of stock brokers/clearing members.

Click here for more details.


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