Compliance of Interim Financial Reporting as Per Regulatory Requirement in India (With Special Reference to Nationalized Bank)

Abstract

Clause 41 of the listing agreement as issued by Securities Exchange Board of India (SEBI) directs the India Inc to comply with the provisions laid down by the board in respect of financial reporting. The board has made special requirement in respect of Interim Financial Reporting (IFR) to prepare and publish interim financial results and limited reviews of interim results by the auditor etc. In this paper an attempt has been made to verify the compliance of guidelines issued by SEBI as regard to interim financial result and put it on a scorecard to measure the level of compliance.