SEBI amends formats for limited review / audit report of the listed entity due to revision of SA 700 and other suggestions given by ICAI
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, on March 29, 2019 had issued Circular CIR/CFD/CMD1/44/2019 on the procedure and formats for limited review / audit report as above with the formats for audit report and limited review report.
However, subsequent to it the Institute of Chartered Accountants of India (ICAI) had revised the SA 700 which was basis of the said circular. Therefore there was a need to align the said audit report formats with the revised SA 700 (Revised).
Also, the ICAI had suggested certain updates with respect to the limited review report as contained in the the said circular.
Accordingly, the SEBi has modified the said Circular and the relevant annexures/exhibits to the said Circular with respect to the financial results for the quarter ending September 30, 2019 and after.
| Exhibit C1: Format for the Limited Review Report for listed entities other than banks and insurance companies – unaudited standalone quarterly and year to date results |
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Exhibit C2: When an Unmodified Opinion is expressed on the Quarterly and year to date financial results for companies (other than banks and insurance companies) Illustrative format of Independent Auditor’s Report (Unmodified Opinion) on Audited standalone Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements ) Regulations, 2015 |
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Exhibit C4: When an Unmodified Opinion is expressed on consolidated audited quarterly and year to date financial results for companies (other than banks and insurance companies) Illustrative Format of Independent Auditor’s Report (Unmodified Opinion) On consolidated audited quarterly and year to date financial results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 |
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Exhibit C5: Illustrative format of independent auditor’s report (unmodified opinion) on the annual consolidated financial results pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 for companies (other than banks and insurance companies ) |
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Exhibit B1: Format for the Limited Review Report for banks for unaudited standalone quarterly and year to date results |
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Exhibit B2: When an Unmodified Opinion is expressed on the Audited quarterly and year to date Financial Results (for Banks) |
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Exhibit B4: When an Unmodified Opinion is expressed on consolidated audited quarterly and year to date Financial Results (for Banks) Illustrative Format of Independent Auditor’s Report (Unmodified Opinion) on consolidated audited quarterly and year to date Financial Results of the Bank Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 |
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Exhibit B5: Illustrative format of independent auditor’s report (unmodified opinion) on the annual consolidated Financial Results under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015 (for Banks) |
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