The National Securities Depository Limited (NSDL) on October 10, 2024, issued a circular regarding the Internal and Concurrent Audit of depository operations.
The following has been stated: -
•The audit report format has been modified and enclosed as Annexure 1 (in track change mode) and as Annexure 2 (without highlighting the changes). The broad objectives/guidelines for the internal/concurrent audit are enclosed as Annexure 3.
•Audit should cover all facets of the depository operations. The auditor may expand the scope of audit / add more audit points to achieve the objectives enclosed in Annexure 3. Participants are advised to extend full cooperation to their auditors to enable them to perform an effective audit.
•The Participants who remain operational for less than three months in an audit period can submit an audit report for that audit period along with the audit report for the next audit period. For example, if a Participant is made operational by NSDL on July 01, 2023, then it can submit the first audit report for the period July 01, 2023 – March 31, 2024.
•Participants are advised to note that the audit report format provided in this circular is applicable for the audit period from April 01, 2024, to September 30, 2024, and onwards.
The detailed circular is given in the document below.
[Circular No. NSDL/POLICY/2024/0147]
