Regulation 44 - Auditor’s Report - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999

Auditor s Report 44. (1) Every 1 [collective investment scheme] shall have the annual statement of accounts audited by an auditor who is empanelled with the Board and who is not in any way associated with the auditor of the Collective Investment Management Company. (2) The auditor shall be appointed by the trustee. (3) The auditor shall forward his report to the trustee and such report shall form part of the Annual Report of the v. (4) The auditor s report shall comprise the following:- (a) a certificate to the effect that:- (i) he has obtained all information and explanations which, to the best of his knowledge and belief, were necessary for the purpose of the audit; (ii) the balance sheet and the revenue account give a fair and true view of the v, state of affairs and surplus or deficit in the 2 [collective investment scheme] for the accounting period to which the Balance Sheet or, as the case may be the Revenue Account relates; (iii) the statement of account has been prepared in accordance with accounting policies and standards as specified in Part II of the Ninth Schedule; (iv) any other matter which in the opinion of the auditor is vital and has a bearing on the 3 [collective investment scheme]s. *************** NOTES:- 1 Substituted by the SEBI (Collective Investment Schemes) (Amendment) Regulations, 2014, w.e.f. 9-1-2014. 2 ibid. 3 ibid.