Market regulator Sebi on Thursday released revised formats for limited review and audit reports to be submitted by entities that have listed their non-convertible securities.
The revised formats relate to limited review and audit reports for banks and NBFCs as well as other entities, excluding insurance companies.
Insurance companies would release limited review / audit reports in accordance with formalities specified by Irdai, Sebi said in a circular.
The formats would be applicable to review reports for the stand-alone quarterly financial results of banks and NBFCs as well as entities other than banks and NBFCs. In addition, it should be followed for the audit reports for the stand-alone quarterly financial results as well as for the consolidated annual financial results to be submitted by all these entities.
Sebi said the circular would go into effect with immediate effect.
The circular will also replace the circulars published in November 2015 and August 2016 regarding listed entities for the disclosure of financial results that have listed non-convertible debt securities and non-convertible redeemable preferred shares.
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