T
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
