SEBI Expands Eligibility Criteria for Internal Audit Teams of Credit Rating Agencies (CRAs)

The Securities and Exchange Board of India (SEBI) has expanded the eligibility criteria for individuals to serve as internal auditors within credit rating agencies (CRAs). This move is aimed at further improving the governance and oversight mechanisms within these crucial entities that assess the creditworthiness of companies and financial instruments. In addition to cost accountants, SEBI has now included chartered accountants and company secretaries who possess the requisite expertise and qualifications as eligible to be part of the internal audit teams of CRAs, thereby widening the pool of qualified professionals for these important roles.