ICAI and SEBI Join Forces to Tackle Financial Frauds

The Institute of Chartered Accountants of India (ICAI) is preparing a research paper to aid SEBI in combatting financial frauds. The initiative involves creating a working group, engaging with SEBI, and developing strategies to enhance investor protection amidst rising market investments and fraud concerns.

The Institute of Chartered Accountants of India (ICAI) is taking a proactive approach in assisting the Securities and Exchange Board of India (SEBI) to address the challenge of financial frauds. The leading regulatory body for chartered accountants plans to develop a comprehensive research paper to provide concrete solutions.

According to ICAI President Charanjot Singh Nanda, the institute will establish a dedicated working group to engage with SEBI. The focus will be on identifying the necessary measures to safeguard investors and enhance market integrity. This initiative follows strategic discussions between Nanda and SEBI Chairman Tuhin Kanta Pandey.

ICAI, representing thousands of accounting professionals and students, underscores the critical need for robust mechanisms to protect investors’ interests. Given the surge in market participation, particularly from retail investors, addressing financial misconduct and fair pricing practices is imperative for sustained economic growth.

(With inputs from agencies.)