SEBI has revised certain formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entity through its Circular dated 19th July 2019

SEBI has revised certain formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entity through its Circular dated 19th July 2019

August 1, 2019 SEBI 0

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he Securities and Exchange Board of India (“SEBI”) had earlier, through a Circular dated 29th March, 2019 clarified the 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. Subsequent to issuance of the said Circular, the Institute of Chartered Accountants of India (“ICAI”) informed SEBI that the ICAI has revised the Standard on Auditing [(SA) 700] basis which certain formats were issued , and that the formats will now have to be revised to align them to the revised (SA) 700. Now, through its present circular, SEBI has accordingly revised the said formats.

Format No. Audited/ Unaudited Periodicity Standalone/ Consolidated results Brief description of the formats
For listed entities other than banks and insurance companies (C formats) – Attached For Banks (B formats)- Attached
C1 (modified) B1 (modified) Unaudited Quarterly Standalone Format for the Limited Review Report on quarterly
and year to date results
C2 (modified) B2 (modified) Audited Quarterly Standalone When an Unmodified Opinion is expressed on the Quarterly and year to date financial results
C3 B3 Unaudited Quarterly Consolidated Independent Auditor’s Review Report on Review of Consolidated Unaudited Quarterly and Year to date Financial Results
C4 (modified) B4 (modified) Audited Quarterly Consolidated When an Unmodified Opinion is expressed on consolidated audited quarterly and year to date financial results
C5 (modified) B5 (modified) Audited Annual Consolidated When an Unmodified Opinion is expressed on consolidated audited annual financial results

Source: Securities and Exchange Board of India

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