Taxation

5 entities shortlisted to streamline online registration process: SEBI

Regulator SEBI has shortlisted five entities including Deloitte and Ernst & Young that will be entrusted with the task of improving online registration system, inspect market intermediaries and enhance the efficiency of the complaint redressal process. Other firms on the sortlist are Accenture Solutions, BDO India LLP and EIT Services India. Pursuant to issuance of a notice in August inviting expression of interest (EoI) from the interested parties for carrying out Knowledge Management and Business Process Re-Engineering, the regulator said it has shortlisted these entities for further process. According to SEBI, this EoI aims to streamline the registration process, make it more efficient and improve the online registration portal accordingly and to focus on the automation of inspection process. Further, the firm will have to integrate the business process and create a benchmark for each process and setting up alerts, the Securities and Exchange Board of India (SEBI) noted. Ernst & Young Associates LLP and Deloitte Touche Tohmatsu India LLP are among the nine entities that have been empanelled by SEBI, earlier this month, to conduct forensic audits of financial statements of listed companies to check frauds.

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