SEBI Expands Forensic Auditor Panel; New Empanelment Valid for 3 Years

The Securities and Exchange Board of India (SEBI) has added 18 firms to its panel of forensic auditors authorised to examine the financial statements and related records of listed companies.

The latest empanelment follows a selection process initiated through a public procurement notice issued by SEBI in November 2025. According to the regulator’s notification, the selected firms have been included in the existing panel of forensic auditors published in April 2025.

The empanelment will remain valid for three years from the date on which the updated list was published.

Newly Empanelled Forensic Audit Firms

The additional firms named by SEBI include:

1. Ernst & Young LLP
2. KPMG Assurance and Consulting Services LLP
3. Zx Grant Thornton Bharat LLP
4. Nangia & Co LLP
5. J C Kabra & Associates
6. J Mandal & Co LLP
7. J Singh & Associates
8. Jain Jagawat Kamdar and Company
9. Pipara & Co LLP
10. R Kabra & Co LLP
11. R S Patel and Co
12. Ravii Rajan and Co LLP
13. S S Periwal and Co
14. Sarath and Associates
15. SKVM and Company
16. V Singhi & Associates
17. ASA & Associates LLP
18. CLA Indus Value Consulting

Scope of the Forensic Audit Panel

Firms included on SEBI’s panel may be assigned forensic audits involving listed entities where financial irregularities, accounting discrepancies, diversion of funds, misrepresentation or other potential violations require detailed examination.

These audits may involve reviewing financial statements, accounting records, transactions, internal controls and supporting documents to identify suspected misconduct or regulatory non-compliance.

The expanded panel is expected to strengthen SEBI’s capacity to undertake independent forensic reviews and support regulatory action aimed at protecting investors, improving corporate transparency and maintaining the integrity of India’s securities market. CA Sansaar