20 January 2009
IN an effort to further tighten disclosure norms, the Securities and Exchange Board of India (SEBI) has made mandatory limited review for unaudited quarterly financial results of companies by their auditors from the quarters ending on or after June 30, 2003.
Currently, only half-yearly results of listed companies are subjected to limited review by their auditors.
To make it limited review mandatory for quarterly results as well, SEBI has asked stock exchanges to amend Clause 41 of the listing agreement for companies.
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