Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
Recovery of Shares
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
SEBI has released a circular on Audit Committee of Asset Management Companies on 9th February, 2022 which mandates the Asset Management Companies (AMCs) of Mutual Funds to mandatorily constitute an Audit Committee. The circular also lists down the role, responsibilities, membership and other features of the committee to be constituted for such AMCs. The mandate of this circular shall come into force from 1st August, 2022.
The Audit Committee of an AMC is responsible for the oversight of financial reporting process, company’s system of internal controls, audit process, compliance to laws and regulations and other related processes with regards to the Mutual Fund business.
Following is the role of the Audit Committee that is created for the purpose of AMCs:
Financial Reporting
Audit (both Internal and External) and Internal Controls
SEBI[1] said that the decision to have mandatory Audit Committee for Asset Management Companies of the Mutual Funds was taken after recommendations were taken from the Mutual Fund Advisory Committee along with the feedback received from the industry. Having done that, SEBI has come out with a detailed framework of role, responsibility, membership, reporting and other features of the Audit Committee of the AMC of Mutual Funds.
The Reserve Bank of India (RBI) has recently issued new guidelines aimed at reducing unfair cha...
Corporate tax plays an important role in selecting the ideal location for setting up a business...
The United Arab Emirates (UAE) is recognized as the top global destination for innovation and i...
Did you or anybody in your family invest in Axis Bank Limited shares during the 1990s or early...
The Pharmaceutical industry is India's top gross domestic product (GDP) contributor. The market...
Are you human?: 3 + 7 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
The Securities and Exchange Board of India issued simplified and standardised guidelines for investor service reque...
13 Jan, 2022
Under the guidance of SEBI, the AMFI (Associate of Mutual Funds in India) is actively exploring Aadhaar alternative...
17 Aug, 2024