New draft framework for appointment of auditors

SEBI has issued a Consultation Paper on aspects relating to Secretarial Compliance Report, Appointment of Auditors and Related Party Transactions of a Listed Entity. This consultation paper seeks views/comments/suggestions from public on proposals relating to the following:

1. Strengthening the secretarial compliance report of a listed entity.
2. Specifying eligibility criteria for appointment of statutory auditor of a listed entity Disclosures to the Audit Committee, Board of Directors and shareholders at the time of appointment / reappointment of statutory auditor and secretarial auditor of a listed entity.
3. Facilitating ease of implementation with respect to approval of Related Party Transactions (RPT)undertaken by subsidiaries of a listed entity.

The comments or suggestions, along with rationale, may be submitted latest by February 28, 2025.