Guidelines on interaction with Audit Committee of entities with listed NCDs

Last Reviewed On: 25 April, 2020 (Version 1)

SEBI vide its Circular SEBI/HO/MIRSD/CRADT/CIR/P/2019/121 dated November 04, 2019 has made mandatory an interaction with the Audit Committee of the rated entity at least once a year on specific matters that may have a bearing on the rating of the listed NCDs. The matters to be discussed include related party transactions, internal financial control and other material disclosures made by the management of the rated entity with listed NCDs

Given the logistical challenges of getting a common time from different members of the Audit Committee of the Board, Acuité will seek an interaction with the Chairperson of the Audit Committee of the Board. In an exceptional circumstance where the Chairperson is not available, the meeting or call may be conducted with another independent director in the Audit Committee.

The mode of such interaction with the Chairperson of the Audit Committee could include an in-person meeting OR video-conferencing OR telephonic interaction.