ICSI Floats the Revised Format of Annual Secretarial Compliance Report (ASCR)
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- Last Updated on 27 April, 2023
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ICSI news dated 25.04.2023
The ICSI has revised the format of the Annual Secretarial Compliance Report (ASCR) to make it easier for Practising Company Secretaries to issue the ASCR. SEBI vide notification dated May 5, 2021 inserted Regulation 24A in SEBI (LODR) Regulations, 2015. This regulation requires a listed entity and its material unlisted Indian subsidiaries to annex an ASCR by the PCS in its annual report.
In addition to this, SEBI vide its Circular no. dated October 18, 2019 prescribed certain provisions relating to the resignation of statutory auditors from listed entities and their material subsidiaries that must be included in the ASCR.
Further, both the Stock Exchanges i.e. BSE Ltd. and NDE Ltd. vide circulars dated March 16, 2023 and April 10, 2023 respectively prescribed a few additional affirmations by PCS that need to be provided while submitting the Annual Secretarial Compliance Report.
In this regard, the Institute has felt the need to provide a format that collates all the amendments for the ease of the Company Secretaries in Practice (PCS) issuing ASCR.
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