EXCLUSIVE
ICAI panel on detecting early warning signs on fraud to meet in Aug, says source
This story was originally published at 17:20 IST on 30 July 2025
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By Rajesh Gajra
NEW DELHI – The high-powered group set up by the Institute of Chartered Accountants of India to prepare a report on the detection of early warning signs of accounting fraud in listed companies will hold its first physical meeting in early August in Mumbai, a senior official of the institute told Informist. Though the group had met virtually on Jun. 23, it did not include representatives of the stock exchanges, the official said.
The meeting in Mumbai holds importance as representatives of the National Stock Exchange of India and the BSE, and potentially officials from the market regulator Securities and Exchange Board of India, are likely to attend, the official said.
The ICAI had set up the group in June on the suggestion of SEBI Chairman Tuhin Kanta Pandey. The group, comprising more than 15 members, has been tasked with preparing a report to help the market regulator identify early signs of fraud in the financial accounts of listed companies.
Separately, at a press conference in New Delhi on Wednesday to announce the signing of memorandums of understanding with the NSE International Exchange and Indian Venture and Alternative Capital Association, ICAI President Charanjot Singh Nanda said the report will be prepared in the next 2-3 months.
The group's report will outline indicators of potential financial or accounting scams developing within a listed company. "If something is cooking, why and how you (regulators) put in your hands so that investors are safe," Nanda had said earlier. "The moment you see something is fishy, you step in immediately," he had said earlier. End
Edited by Saji George Titus
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