Markets regulator Sebi has selected Hyderabad-based chartered accountant Sarath Associates for conducting forensic audits of financial statements of listed firms to check frauds, taking total number of such entities to 10.
The watchdog has already enrolled nine entities -- KPMG, Grant Thornton, Ernst Young Associates LLP, Deloitte Touche Tohmatsu India LLP, Chokshi Chokshi LLP, G D Apte Co CA, JLN US Co, Pipara Co LLP and T R Chadha Co LLP -- in October.
Pursuant to completion of empanelment process, Sarath Associates has been enrolled to take up assignments relating to forensic audit, Securities and Exchange Board of India (Sebi) said in notice dated December 31.
In July this year, markets watchdog had invited applications from eligible CA firms "for empanelment to take up assignments relating to forensic audit of financial statements of listed companies".
The move comes amid Sebi ordering forensic audit of a slew of companies.
Of late, concerns have been raised over certain auditors for being negligent while examining books of listed firms with various inconsistencies in financial statements being ignored.