The weekly messenger | Edition 30.21
This newsletter is a weekly compilation of accounting, auditing and related regulatory news from different accounting and regulatory bodies in India and overseas
Regulatory news
Revised Formats for Limited Review/ Audit Report for issuers of non-convertible securities ‒ 14 October 2021
The Securities and Exchange Board of India (SEBI) vide its Circular dated 7 September 2021 had mandated entities that have listed non-convertible securities to disclose financial results on a quarterly basis, including assets & liabilities and cash flows as well as requiring certain changes in the line items in the financial results.
Now the SEBI has issued revised formats for limited review and audit reports for the said class of entities.
Further, it has been clarified that the insurance companies shall disclose limited review/audit reports as per the formats specified by the Insurance Regulatory and Development Authority of India (IRDAI).
Moreover, this Circular will supersede the erstwhile SEBI’s Circulars issued to listed entities for disclosure of financial results that have listed non-convertible debt securities and non-convertible redeemable preference shares.
For more information, click here
XBRL based filing of Related Party Transactions for Listed Companies at BSE ‒ 19 October 2021
The Bombay Stock Exchange (BSE) vide its Circular dated 6 September 2021, had made it mandatory for the listed companies to make their filings in respect of Related Party Transactions in XBRL mode only.
Now the BSE has issued a clarification that such XBRL submission shall not be applicable for the Listed Banking Companies for the half year ended 30 September 2021 and they can continue to file the same in PDF format for the said period.
For more information, click here.