Cost accountant included in the list of eligible internal auditor of Credit Rating Agencies.
SEBI has included the Cost Accountant as eligible for internal audit of credit rating agencies.
It is known that Institute of Cost Accountants of India (ICMAI) is actively representing to the Government/other autonomous bodies for the inclusion of a Cost Accountants for audit purposes under various Statutes.
Para 33.1.3 of the Master Circular for Credit Rating Agencies (CRAs) dated May 16, 2024 issued by SEBI, in respect of requirements related to Internal Audit of CRAs, specified that the audit team must be composed of, at least, a Chartered Accountant (ACA/ FCA) and a Certified Information Systems Auditor/ Diploma in Information Systems Auditor (CISA/ DISA) from ICAI.
SEBI has issued Circular dated 14.05.2025. It states that in order to provide CRAs with a larger pool of eligible professionals with the relevant experience/qualifications for conducting the internal audit, it has been decided to include Cost Accountant (ACMA/ FCMA) and Diploma in Information System Security Audit (DISSA) qualifications from the Institute of Cost Accounts of India (ICMAI) to the audit team. Accordingly, the Master Circular for CRAs now stands modified.
The circular shall be applicable with immediate effect.
Download SEBI Circular SEBI/HO/DDHS/DDHS-PoD-2/P/CIR/2025/68 >>
- Section 292C carry no presumption of correctness of seized documents contents against third party
- Condonation of delay u/s 119(2)(b) for filing revised return to avail benefits u/s 44ADA
- Whether condition of pre-deposit prior to reference to Arbitration is arbitrary & violative of right to sue?
- FAQs on Foreign Assets of Small Taxpayers Disclosure Scheme and Rule 2026
- Foreign Assets of Small Taxpayers- Disclosure Scheme Rules 2026 notified
