The Securities and Exchange Board of India (SEBI) on March 25, 2026, issued the notification regarding the Clarification regarding eligibility of members of the Institute of Cost Accountants of India to conduct annual audit of Research Analysts.
The following has been stated namely: -
• Earlier, only members of ICAI and ICSI were allowed to conduct annual audits of Research Analysts (RAs).
• Now, members of the Institute of Cost Accountants of India are also eligible to conduct annual audits of RAs.
• RAs must complete the annual audit within 6 months of financial year-end and submit the report to SEBI within 1 month (latest by October 31).
• RAs must publish audit status and adverse findings on their website and share the compliance report with clients.
This shall come into force on March 25, 2026.
[Notification No. HO/38/12/12(1)2026-MIRSD-SEC-FATF/I/7934/2026]
