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. This edition
covers some of the important updates on accounting and regulatory matters and other discussion/consultation papers and
publications for the period from 1 October 2023 to 31 October 2023.
Regulatory updates for October 2023
The Securities and Exchange Board of India (SEBI) recently issued the revised framework for raising of funds by Large Corporates (LC) by issuance of debt securities.
Some of the key aspects of the revised framework include:
- Applicability
- Revised definition of a LC
- Qualified borrowings, and
- Transitional requirements.
Additionally, various publications have been released by the regulators during this month.
Some of these include:
- Exposure draft on Accounting Standards for Limited Liability Partnerships by ICAI
- The Master Direction - RBI (NBFC-Scale Based Regulation) Directions, 2023 by RBI
- Frequently Asked Questions (FAQs) on proposed ISSA 5000: The application of materiality by the entity and assurance practitioner by IAASB
Discussion/Consultation papers and Publications
Matters for auditors’ attention
Download PDF for the month of October 2023
