Annual Systems Audit
Summary
The circular mandates that stock exchanges must conduct an annual systems audit by a reputed independent auditor. Exchanges are required to present the audit report and compliance status before their Governing Board and communicate findings to SEBI. The deadline for completing the systems audit for the year 2008-09 is set as December 31, 2008.
Text
exchanges shall conduct audit of their systems by a reputed independent auditor on an annual basis
systems audit should be comprehensive encompassing audit of systems and processes related to examination of Trading Systems, Clearing and Settlement Systems (Clearing Corporation/Clearing House), Risk Management, Databases, Disaster Recovery Sites, Business Continuity Planning, Security, Capacity Management and Information Security Audit
place the Systems Audit Report and Compliance Status before the Governing Board of the exchange
systems audit report/findings alongwith your comments should be communicated to SEBI
For the year 2008-09, the systems audit should be completed before December 31, 2008
Source: SecMarx — Annual Systems Audit. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.