Regulatory Alerts || Faqonline.org

The regulatory updates publication issued by the Foundation for Audit Quality (FAQ) highlights the latest developments in accounting, auditing and regulatory developments in India and internationally.

Regulatory updates for July 2023

Recently, the Securities and Exchange Board of India (SEBI) issued various updates related to ESG disclosures, ratings and investing. These include:

Business Responsibility and Sustainability Reporting (BRSR) Core framework
SEBI (Credit Rating Agencies) Amendment Regulations, 2023 and master circular for ESG Rating Providers
New category of mutual fund schemes for ESG investing and related disclosures

Additionally, various publications have been released by the regulators during this month. Some of these include:

Exposure Drafts of SQM 1, SQM 2, SA 220 (Revised), SA 250 (Revised), SA 315 (Revised), SA 540 (Revised) and SRS 4400 (Revised)
ICAI audit working paper templates
Compendium of Forensic Accounting and Investigation Standards, and
Comparison: IFRS S2 Climate-related Disclosures with the TCFD Recommendations by the IFRS Foundation

This issue of the regulatory updates publication covers some of the important updates on regulatory matters and other discussion/consultation papers and publications for the period from 1 July 2023 to 31 July 2023. It also highlights some of the action points that auditors may consider when applying the relevant provisions.