Sebi has asked stockbrokers and clearing members to carry out a complete internal audit on a half-yearly basis by independent qualified chartered accountants.
The scope of the audit will cover the existence, scope and efficiency of the internal control system, compliance with the provisions of the Sebi Act, 1992, Securities Contracts (Regulation) Act, 1956, Sebi (Stockbrokers and sub brokers) Regulations, 1992, among others. The first such audit period should be between October 1, 2008, and March 31, 2009.