TFS Gulf
  • All categories
    • inPractice
    • Entrepreneur Story
    • Finance Leaders
    • Videos
TheFinanceStory
No Result
View All Result
  • Login
  • Register
Book 1:1 session with industry experts!
  TFS Gulf
  • All categories
    • inPractice
    • Entrepreneur Story
    • Finance Leaders
    • Videos
The finance story
No Result
View All Result
  • Login
  • Register
Book 1:1 session with industry experts!
The Finance Story
No Result
View All Result

SEBI’s Forensic Audit Panel is here — KPMG, EY, GT out!

SEBI has chosen only 9 firms this time, for conducting forensic audits of listed companies, down from 20 in 2022. However, big names like Ernst & Young, KPMG Assurance And Consulting Services and Grant Thornton Bharat couldn't make the cut. .

Preeti Mondal by Preeti Mondal
Published date: 4th May, 2025
Last edited date: 7th May, 2025
SHARE (0)
SEBI has chosen only 9 firms this time, for conducting forensic audits of listed companies, down from 20 in 2022. However, big names like Ernst & Young, KPMG Assurance And Consulting Services and Grant Thornton Bharat couldn't make the cut. .
Share on FacebookShare on Twitter
  • SEBI has slashed its forensic audit panel from 20 firms to just just 9!  

  • The new panel will conduct forensic audits to check for fraud in the financial statements of listed companies.

  • Crucial role in maintaining market integrity and transparency.

  • Surprisingly, Big firms like Ernst & Young, KPMG, and Grant Thornton Bharat are nowhere to be seen.

What is SEBI’s Forensic Audit Panel?

The SEBI Forensic Audit Panel is a group of firms chosen by SEBI to investigate fraud or irregularities in the financial statements of listed companies.

These audits help ensure transparency and trust in the Indian stock market.

Here is SEBI’s forensic auditors’ new panel

1. ATK & Associates
2. BDO India LLP (reappointed for a second term)
3. Chokshi & Chokshi LLP (reappointed for a second term)
4. CNK & Associates LLP
5. Deloitte Touche Tohmatsu India LLP
6. Jain Chowdhary & Co.
7. Pawan Puri & Associates
8. Raju & Prasad Chartered Accountants
9. Rajvanshi & Associates (reappointed for a second term)

Who lost the spot?

It was mostly the big names like,

  1. Ernst & Young
  2. KPMG Assurance And Consulting Services
  3. Grant Thornton Bharat.

It’s worth noting that PwC wasn’t previously on the panel, unlike KPMG and EY. (Looks like PwC didn’t miss much after all!)

Also read: SEBI cracks down on 15,000 unregistered Finfluencers

What’s the reason?

No hard feelings, but as reported by Financial Express, SEBI made this decision to,

  • Maintain a “short and manageable” list.
  • Create a more streamlined and efficient panel, allowing for focused oversight and enhanced efficiency.

How does SEBI select its forensic auditors?

SEBI floated a public tender on November 29, 2024, inviting applications from top forensic audit firms.

This time SEBI set a high bar where firms were evaluated based on strict criteria, including

  • Frequent past engagements with SEBI
  • Strong track record over the past three years; especially if audits were completed on time.
  • Number and complexity of past assignments
  • The experience of key partners involved
  • Team size and bench strength

Wondering what it takes for a firm to qualify?

Here are SEBI’s key criteria:

  • A minimum of 10 years experience in forensic auditing.

  • At least 10 partners or directors, with 5 actively involved in forensic audit work.

  • Completion of at least 15 forensic audits in the past three years, including 3 assignments from regulatory bodies, government agencies, or PSUs.

Firms that make the list will earn fees ranging from Rs 10-30 lakh per assignment, depending on the audit’s duration, the company’s size, and market rates.

Also read: SEBI and Adani controversy: India’s financial regulatory system is flawed?

Wrapping up…

This new panel replaces SEBI’s 2021 list and will remain in effect for the next three years. The regulator will open the empanelment process again after that.

This year’s outcome makes one thing clear — size alone doesn’t secure a seat at SEBI’s table.

FAQs

Who is SEBI’s new Chairman?

  • Tuhin Kanta Pandey is the new Chairperson of the Securities and Exchange Board of India (SEBI).
  • He succeeded Madhabi Puri Buch on March 1, 2025.

What is the main role of SEBI?

The Securities and Exchange Board of India (SEBI) is a statutory regulatory body of India.

It regulates the Indian securities market and protects the interests of investors in securities.

Preeti Mondal

Preeti Mondal

Recommended for you

EY in trouble for audit failure of NMC Health: Faces £2 Billion lawsuit
Accounting & Consulting services

EY in trouble for audit failure of NMC Health: Faces £2 Billion lawsuit

22nd May, 2025 | 3 mins read
Randstad India CFO says executive hiring booming
Hiring

Randstad India CFO says executive hiring booming

22nd May, 2025 | 2 mins read
FTI Consulting taps Antoine Nasr to lead Middle East Business
Dubai

FTI Consulting doubles down on the Middle East

21st May, 2025 | 3 mins read
Microsoft fires 6000 employees...To sharpen focus on AI
News

Microsoft fires 6000 employees…To sharpen focus on AI

20th May, 2025 | 4 mins read
Ex-Deloitte leader is now new India Head of PwC Capability Centres
Big 4

Ex-Deloitte leader is now new India Head of PwC Capability Centres

20th May, 2025 | 3 mins read
Emirates rewards employees with 22-week bonus after $5.2 billion profit
Dubai

Emirates hits $5.2B profit, rewards staff with 22-week bonus

16th May, 2025 | 2 mins read
Next Post
Australia-UK Trade Deal could be a goldmine for accountants: Especially, advisory roles

Australia-UK Trade Deal could be a goldmine for accountants

Start conversation Cancel reply

Your email address will not be published. Required fields are marked *

1:1 career advice platform

  • Manager

    Investment Banking (Front Office) at HDFC Bank.

  • Finance Director

    at Procter & Gamble (P&G)

  • Strategic Program & Ops Manager

    Risk and Internal Audit at Accenture

  • Vice President

    at Alcazar Capital

  • Manager ACR

    Accounting, Compliance and Reporting at EY

  • Senior Accountant

    at BDO Canada LLP

  • Regional Financial Coordinator and Project Manager

    at TotalEnergies

  • Accounts Manager

    at Sterling Perfumes Industries LLC (Fakhruddin Holdings)

BOOK 1:1 CALL

1:1 career advice platform

  • Manager ACR

    Accounting, Compliance and Reporting at EY

  • Senior Accountant

    at BDO Canada LLP

  • Regional Financial Coordinator and Project Manager

    at TotalEnergies

  • Accounts Manager

    at Sterling Perfumes Industries LLC (Fakhruddin Holdings)

BOOK 1:1 CALL
The Finance Story

The Finance Story empowers finance professionals—CFOs, consultants, accountants, tax experts, and bankers—to navigate critical market shifts, industry disruptions, and emerging technologies & trends.

How? We spotlight key opportunities in India and globally, equipping finance professionals with the insights and strategies to drive business growth, optimize decision-making, and position their companies at the forefront

Quick Links

  • Finance
  • Partners
  • Privacy and Policy
  • Terms of use

Follow us

  • /TheFinanceStory
  • @TheFinanceStory
  • /TheFinanceStory
  • @thefinancestory_com
  • TheFinanceStory

© 2022. The Finance Story. All Rights Reserved.

No Result
View All Result
  • TFS Gulf
  • Entrepreneur Story
  • Finance Leaders
  • Videos
  • Login
  • Sign Up

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies to personalize your experience. By continuing to visit this website you agree to our use of cookies.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Book 1:1 call with industry expert