SEBI Allows Cost Accountants to Audit RAs and IAs

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  • Last Updated on 29 March, 2026

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SEBI cost accountants audit RAs IAs

Circular no. HO/38/12/12(1)2026-MIRSD-SEC-FATF/I/7933/2026; Dated: 25.03.2026

The Securities and Exchange Board of India has amended its Master Circular for Research Analysts (RAs) and Investment Advisers (IAs) dated February 6, 2026, to expand the scope of professionals eligible to conduct compliance audits.

1. Key Update

  • Members of the Institute of Cost Accountants of India are now permitted to conduct annual compliance audits for RAs and IAs
  • Cost accountants have been formally recognised as eligible audit professionals alongside existing categories

2. Compliance Requirement

  • RAs and IAs must conduct an annual audit of their compliance framework
  • The audit must be completed within 6 months from the end of each financial year

3. Significance of the Amendment

  • Expands the pool of qualified professionals for compliance audits
  • Enhances ease of doing business for intermediaries
  • Strengthens regulatory oversight and audit quality through broader professional participation

4. What This Means for Market Participants

  • Research Analysts and Investment Advisers now have greater flexibility in appointing auditors
  • Cost accountants can play a more active role in financial regulatory compliance and governance
  • The move aligns with SEBI’s focus on robust compliance frameworks and accountability
Click Here To Read The Full Circular

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied