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SEBI ordered peer review to take 10-15 days

Neha Dhamija


Following the orders by SEBI (Security and Exchange Board of India) to carryout the peer review of Nifty and Sensex tracker companies, Institute of Chartered Accountants of India (ICAI) said on Friday, that auditors might take about two weeks to get over with the assigned job.


The task has been initiated to avoid any further occurrences of incidents like the recent Satyam Fiasco. This Rs.7000 crore illusion has not only shocked the corporates of the country but also in a way, questioned the authenticity of many national benchmarks. A probe into the market dealings of this IT giant has already been stimulated. President of the apex authority (ICAI) guiding the functioning of Chartered Accountants in India, Ved Jain divulged the information.


The decision to look into the records of Nifty and Sensex listed companies, which is to start after the announcements of third quarter results came post the meeting of SEBI officials relating to the accounting standards. The review would be regarding the last quarterly results and the audited annual financial results, as told by SEBI.

 
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