ICAI says set up panel on accounting fraud at SEBI chief's behest
This story was originally published at 16:25 IST on 18 June 2025
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--ICAI:Formed panel on SEBI's behest to spot accounting frauds in listed cos
NEW DELHI – The Institute of Chartered Accountants of India recently set up a group to determine early warning signs of accounting fraud at listed companies at Securities and Exchange Board of India Chairman Tuhin Kanta Pandey's insistence, the institute's President Charanjot Nanda said Wednesday. Nanda was speaking at a media conference on the institute's initiatives in the global capability centre ecosystem.
The institute's president said the panel comprises 14 members, including chartered accountants and SEBI and stock exchange officials, and is working on a report aimed at helping the market regulator spot early warning signs of fraud in the accounting of listed companies.
Nanda said he and a delegation from the institute had met Pandey in Mumbai in early May and the SEBI chairman had "insisted we make a group" in this regard.
The institute head said the group will spell out in detail the indicators of potential financial or accounting fraud in a listed company. "If something is cooking, why and how you put in your hands so that investors are safe," Nanda said. The moment you see something is fishy, you step in, he added.
The group will be ready with its recommendations "very soon", according to Nanda. The report, when it is submitted to SEBI, will be useful not only in the case of listed companies but for all public companies, the institute's chief said.
Reported by Rajesh Gajra and Priyasmita Dutta
Edited by Rajeev Pai
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