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
Applicable to All listed entities (whose equity shares and convertible securities are listed) All the Recognized Stock Exchanges
The Institute of Chartered Accountants of India (ICAI) informed SEBI that ICAI has now revised the SA 700 based on which Exhibits C2, B2, C4, B4, C5 and B5 . Accordingly, the aforementioned audit report formats need to be aligned with SA 700 (Revised) .
Further, ICAI has also suggested certain updates with respect to the limited review report (i.e. Exhibits C1 and B1)
In partial modification , Exhibits C1, B1, C2, B2, C4, B4, C5 and B5 of Annex 2 to the said Circular shall be replaced by Exhibits C1, B1, C2, B2, C4, B4, C5 and B5
It shall be applicable with respect to the financial results for the quarter ending September 30, 2019 and after.
Please find the following format under attached circular 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
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)
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)
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)
Exhibit B1: Format for the Limited Review Report for banks for unaudited standalone quarterly and year to date results
Exhibit B2: When an Unmodified Opinion is expressed on the Audited quarterly and year to date Financial Results (for Banks)
Exhibit B4: When an Unmodified Opinion is expressed on consolidated audited quarterly and year to date Financial Results (for Banks)
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).
Please find the following attached format for the same. Link
About the Author
