Securities and Exchange Board of India (SEBI) on 3 April 2014 had revamped its committee on disclosures and accounting standards. This committee advices SEBI on matters related to disclosure requirements and accounting practices for various market participants.
About Committee on Disclosures and Accounting Standards
This committee is a 17-member expert panel being chaired by Tata Sons’ Director-Finance Ishaat Hussain. Other important members of the committee includes
• Wipro CFO and Executive Director - Suresh Senapaty
• NSE Managing Director and CEO - Chitra Ramkrishna
• Comptroller & Auditor General of India Director General - AB K P Sasidharan
• Institute of Chartered Accountants of India - S Santhanakrishnan
• Representatives from SEBI, finance ministry and corporate affairs ministry
For the first time, the committee was constituted in 2006 under the chairmanship of chartered accountant, YH Malegam. This committee was constituted to suggest ways to SEBI for improving disclosure framework for listed companies and accounting practices of various market entities.