Now, listed entities will be required to disclose
the cumulative impact of all audit qualifications
on relevant financial items in a separate form
called 'Statement on Impact of Audit
Qualifications' instead of the present form. Such
disclosures will have to be made in a tabular form,
along with annual audited financial results filed
in terms of listing regulations. The new
mechanism will be applicable from April 2016.
Besides, the management of a company would
be required to explain its view about
qualifications.
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