Dated:
26th May 2010
Sub:
Submission of Internal Audit Report for the half year ending 31st March 2010.
This is further to Exchange Notices on the captioned subject wherein members were intimated that they are required to submit Internal Audit Report on a half yearly basis. The next half yearly internal audit period is from 1st October 2009 to 31st March 2010 and the Internal Audit Reports together with all annexures and management comments are required to be submitted to the Exchange on or before 30th June 2010.
The format of
certificate for internal audit is attached as Annexure I and revised guidelines and format
for Internal Audit Report are enclosed as Annexure II.Members are required to ensure that
Internal Audit report for the half year ended on March 31,2010 is as per the revised
guidelines and format as stated in Annexure II. The annexure I and annexure II are
available in web site of the Exchange at www.cse-india.com. Members may kindly refer the annexures and download the same from the Internet.
Members participating in both C-Star
and BSE-CSE arrangement may submit single Internal Audit Report combined across different
trading platforms.
Based on scrutiny of earlier reports,
specific attention of the Members is drawn to the following points:
1. Every
page of Audit Report to be stamped by the auditor.
2. The
Auditor’s certificate needs to be on his letterhead containing the address and
contact no. of the auditor.
3.
Minimum sample size needs to be adhered and mentioned in the audit report.
4. The
Audit Report must contain Management comments.
5. Audit
Report should come through Trading Member only.
6. The
audit report should contain details only of the respective Exchange to which the report is
being submitted.
The quality of internal audit reports
received from members shall be monitored and appropriate steps shall be taken if the
reports do not meet minimum expected quality levels.
All the members are advised to ensure
compliance with the above requirements and submit internal audit report along with audit
certificate and management comments, if any on or before June 30, 2010 to the Surveillance
department of the Exchange on 4th floor, 7,Lyons Range, Kolkata –700 001to
avoid any disciplinary action, which may be initiated for non-submission of the report.
In case of any queries/clarification,
the trading members may contact DGM (Surveillance & MOP) / Manager (Surveillance) of
the Exchange.
DGM
(Surveillance & MOP)