SEBI issued a circular regarding the Composition of the Internal Audit team for CRAs
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, Para 33.1.3 of the Master Circular for CRAs stands modified as under
“The audit team must be composed of at least a Chartered Accountant (ACA/ FCA) or a Cost Accountant (ACMA/ FCMA) and a Certified Information Systems Auditor/ Diploma in Information System Auditor/ Diploma in Information System Security Audit (CISA/ DISA/ DISSA).”
The circular shall be applicable with immediate effect.
Link – https://www.sebi.gov.in/legal/circulars/may-2025/composition-of-the-internal-audit-team-for-cras_93917.html
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