Reporting of Audit Qualifications to Stock Exchange
Clause 31(a) of Equity Listing Agreement, inter-alia, requires listed companies to submit six copies of annual reports containing audited annual financial statements to the stock exchanges.
SEBI, in its continuous endeavor to enhance the quality of financial reporting being done by listed companies, has now decided to put in place a system to monitor the audit qualifications contained in the audit report accompanying the audited annual financial statements submitted by listed companies.
W.e.f. December 31, 2012 all listed Companies shall now be required to submit the following forms, as may be applicable, along with copies of annual reports submitted to the stock exchanges:
· Form A: Unqualified/ Matter of Emphasis Report
· Form B: Qualified/ Subject To/ Except For Audit Report
Detailed circular dated 13th August, 2012 is attached herewith for your ready reference.
