Sebi decides to appoint auditors for conducting forensic audits to check frauds
The move comes amid Sebi ordering a forensic audit of a slew of companies including Fortis Healthcare.
Spelling out the eligibility criteria, Sebi said that the applicant should have minimum 10 years of experience in the field of the audit or forensic audit; should have at least 5 partners or directors involved in forensic audit related work, the regulator said in a public notice.
"Application shall not be considered where disciplinary action or proceedings have been initiated against the applicant, its partners or directors, by any regulatory body or court of law," Sebi noted.
Besides, the applicant should have employed at least 10 persons (full time), having relevant qualification, experience, and expertise in the field of forensic audit and should have had experience of the forensic audit with any regulatory body, or government agency or public sector enterprise.
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