When are adverse findings from the SEBI compliance audit due?
Adverse findings from the annual compliance audit, with the action taken and approved by the individual or management, go to BSE and SEBI within one month of the audit report date and no later than 31 October for the previous financial year. Same rule for research analysts and investment advisers (advisors).
Want this checked against your own position? We handle the documentation and the filing.
SEBI's guidelines for both registrations put two limits on adverse findings. They are filed within one month of the date of the audit report, and in any case by 31 October each year for the previous financial year. Both limits apply, so whichever comes first is your deadline.
| Step | Financial year 2025-26 (year end 31 March 2026) |
|---|---|
| Audit completed | Within six months of year end, so by 30 September 2026 |
| Audit report to BSE (IAASB or RAASB) and SEBI | Within one month of the report date |
| Adverse findings with action taken | Within one month of the report date, and by 31 October 2026 at the latest |
What goes in the filing
- Each adverse finding from the audit report.
- The action taken on it.
- Approval of the findings and the action, by you as an individual registrant or by the management of a firm, LLP or company.
After filing
The audit status goes on your website with the adverse findings and the action taken, and the report goes to your clients. Anything you file in October is something your clients can read.
Who does the audit
A member of ICAI, ICSI or ICMAI. The February 2026 master circulars added cost accountants to the pool. The annual client-level segregation certificate forms part of the audit, and it first applied for the financial year ending 31 March 2025.
Note
The texts we cite do not describe a separate filing for an audit with no adverse findings. We check BSE's current practice for a clean report with you before the date.
- 1.SEBI circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2025/004 dated 8 January 2025, Guidelines for Research Analysts
- 2.SEBI circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2025/003 dated 8 January 2025, Guidelines for Investment Advisers
- 3.SEBI Master Circular for Investment Advisers dated 6 February 2026
- 4.SEBI Master Circular for Research Analysts, HO/38/12/11(1)2026-MIRSD-PoD/I/4360/2026 dated 6 February 2026
We handle the documentation and filing: Annual compliance audit
Sources read on 28 October 2026. SEBI revises these requirements, so we re-confirm every figure against the current circular before it goes into an application.
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