Come 2011, and audit committees and board members of Indian companies will have to deal with convergence of Indian GAAP (generally accepted accounting principles) with International Financial Reporting Standards (IFRS), which will have a key impact on their functioning, roles and responsibilities. The audit committees and board members will have

Last month, SEBI issued a circular to he various stock exchanges requiring mandatory internal audit for their stock-brokers / clearing members on a half-yearly basis. The scope of the said audit includes the existence, scope and efficiency of the internal control system, compliance with the provisions of the SEBI Act,