The Bombay Stock Exchange (BSE), on April 26, 2024, issued a notification regarding the System Audit of Stockbrokers and Trading Members.
Trading members are required to carry out system audit of their trading facility for the period ended March 31, 2024, as per the applicability criteria given in the Table attached to the document.
All Trading members are requested to take note that, for each non-compliance reported by the auditor, trading members are required to submit corrective action taken report as per above mentioned timelines. On review of details of corrective action submitted by trading member, the auditor shall submit the status of compliance as Compliant or Non-Compliant on BEFS.
Stockbrokers are requested to refer to the following documents while submitting the system audit report.
•Auditor Selection Norms – Annexure I
•Audit Process – Annexure II
•Auditor User Manual for System Audit Report (SAR) – Annexure III
•Member User Manual for System Audit Report (SAR) – Annexure IV
•Penalty/disciplinary action for Delay/Non-submission of Preliminary?Audit Report / Corrective Action Taken Report and non-Closure of observations – Annexure V
•Terms of Reference (TOR) for System Audit Report - II and III
[Notification No.20240426-62]
