SEBI Circular– Formats for Publishing Financial Results, Securities and Exchange Board of India Issued New Circular for Formats for Publishing Financial Results, Read Total Alert type Below.
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SEBI Circular– Formats for Publishing Financial Outcomes
All Noted Entities
All Recognized Stock Exchanges
Dear Madam/ Sir,
Sub.: Formats for publishing financial results
1. In order to enable financiers to make educated financial investment decisions, timely, appropriate and accurate disclosure of monetary results on a periodical basis is important.
2. Towards this end, Policy 33 of the SEBI (Listing Responsibilities and Disclosure Requirements) Laws, 2015 (hereinafter described as “the listing Laws, 2015”), has recommended numerous disclosures to be filed under numerous provisions included therein in the formats as might be specified by the Board.
- a) The quarterly financial outcomes will exist in the format prescribed at Annexure I for companies other than banks which prescribed at Annexure II for banks.
- b) Production, trading and service companies, which propose to follow practical (secondary) classification of expenditure in the yearly earnings and loss account, will provide quarterly financial lead to the alternative format recommended at Annexure III. The alternative format shall be utilized only if such format is used regularly from the first quarter of the fiscal year.
- c) If the business has more than one reportable primary sector in terms of Accounting Standard (‘ AS’) 17/ Indian Accounting Requirement (‘ Ind AS’) 108 mandated under Area 133 of the Companies Act, 2013 checked out with rules framed thereunder or released by ICAI, it will also send quarterly and yearly segment info as part of monetary lead to the format given up Annexure IV.
- d) Limited review reports shall be offered by auditors in the format recommended in Annexure V for companies other than banks (consisting of those utilizing the alternative format of monetary outcomes) and in the format given in Annexure VI for banks
- e) In case of audited financial reports, the audit report will be given by the auditors in the format given up Annexure VII for companies aside from banks (including those using the alternative format of monetary results) and in the format given in Annexure VIII for banks.
- f) Half-Yearly Declaration of Assets and Liabilities will remain in the format specified in Annexure IX drawn from Set up III of the Companies Act, 2013 or its comparable formats in other statutes, as suitable.
- g) The Form A (for audit report with unmodified viewpoint) and Kind B (for audit report with customized viewpoint) will be filed in the format specified in Annexure X
- h) The financial outcomes published in the newspapers in regards to Guideline 47( 1 )( b) shall remain in the format recommended in Annexure XI
4. While preparation of the financial outcomes, the following will be kept in mind:–LRB- .
- a. Yearly audited financial results shall be in the format as is relevant to quarterly financial outcomes. Columns and figures relating to the last quarter, year to date outcomes and corresponding 3 months in previous year might not be divulged. The category/ disclosure of items in the financial outcomes will be in accordance with the Set up III of the Companies Act, 2013 or its comparable formats in other statutes, as suitable.
5. Business embracing the Ind AS in regards to Companies (Indian Accounting Standards) Rules, 2015 alerted by the Ministry of Corporate Affairs on February 16, 2015 while releasing quarterly/annual financial outcomes under Guideline 33 of the Listing Regulations, 2015, shall guarantee that the comparatives filed along with such quarterly/annual monetary results are likewise Ind AS certified
7. This Circular is being released in workout of powers gave under Area 11 and Section 11 A of the Securities and Exchange Board of India Act, 1992 read with Regulation 33, Policy 47 and Regulation 101( 2) of the Listing Laws, 2015.
8. This circular is readily available on SEBI site at http://www.sebi.gov.in under the category “Circulars”.