SEBI has enlisted the help of CMA to conduct a Share Capital Reconciliation Audit

Mr.Ajay Tyagi, Chairman of the Securities and Exchange Board of India (SEBI), presided over a meeting of the SEBI on Tuesday in Mumbai. The meeting was attended by Part-Time Members via video conferencing. The Board decided, among other things, to hire Cost Accountants (CMA) to conduct Share Capital Reconciliation Audits in accordance with the SEBI (D&P) Regulations, 2018.

Practicing Cost Accountants, in addition to certified Chartered Accountants or practising Company Secretaries, are eligible to conduct share reconciliation audits of issuer corporations under Regulation 76(1) of the SEBI (D&P) Regulations, 2018.

“The Board considered the existing provisions of the SEBI (Depositories and Participants) Regulations, 2018 [SEBI (D&P) Regulations, 2018], and approved the proposal to authorise practising Cost Accountants to conduct share capital reconciliation audits of issuer companies,” according to a SEBI press release.