KPMG, Deloitte empanelled to conduct forensic audits of listed firms

Capital markets regulator the Securities and Exchange Board of India (Sebi) has empanelled nine entities, including KPMG, Grant Thornton and EY, for conducting forensic audits of financial statements of listed companies to check frauds.

The other firms that have been selected are 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.

Pursuant to completion of the empanelment process, these accounting firms have been empanelled to take up the assignments relating to forensic audit, the Securities and Exchange Board of India (Sebi) said in a notice issued on Thursday.

Earlier in July, the markets watchdog had invited applications from eligible CA firms “for empanelment to take up assignments relating to a forensic audit of financial statements of listed companies”.

The move comes amid Sebi ordering a forensic audit of a slew of companies including Fortis Healthcare.

Of late, there have been concerns voiced over certain auditors for being negligent while examining books of the listed firms with various inconsistencies in financial statements being ignored.

Business Standard