SEBI REVISES AUDIT RULES FOR EXCHANGES

SEBI REVISES AUDIT RULES FOR EXCHANGESThe Securities and Exchange Board of India (Sebi) has released a new set of rules for audit of the information technology systems of exchanges and depositories. The regulator has described detailed terms of reference under various heads such as Data centres, software change control, network controls, access policy, business continuity etc. "The (audit) report should have specific compliance/non-compliance issues, observations for minor deviations as well as qualitative comments for scope for improvement. It should also take previous audit reports in consideration and cover any open items therein," a Sebi circular said. It also laid down the selection process for the auditors. - www.business-standard.com