Annual Compliance Audit for FY 2025‑26 — complete by 30 September, submit by 31 October 2026
Every SEBI-registered Research Analyst must get an annual compliance audit done under Regulation 25(3). For FY 2025‑26 (year ended 31 March 2026), the audit must be completed within six months of the financial-year end — by 30 September 2026, and the compliance audit report submitted to RAASB/SEBI within one month — by 31 October 2026. If you haven't finished yours, act now.
Reminders / format: BSE Notice 20260904-13 (4 Sep 2026) — conduct of Annual Compliance Audit FY 2025‑26; and BSE Notice 20260504-19 (4 May 2026) — audit in the prescribed “Annexure to the audit report” format.
What you need to do
- Appoint a qualified auditor. The audit must be done by a member of ICAI (CA), ICSI (CS) or ICMAI (CMA).
- Audit against every provision. The report must be prepared in the prescribed “Annexure to the audit report” format and report compliance against each provision of the RA Regulations and circulars.
- Complete by 30 September 2026. The audit itself must be finished within six months of the financial-year end.
- Submit by 31 October 2026. File the compliance audit report with RAASB/SEBI through the RAASB portal within one month of the audit report date.
- Publish & share. Put the status of the compliance audit report on your website, publish any adverse findings with the action taken, and provide the report to your clients.
Penalties for missing it
Under the BSE/RAASB penalty structure (effective 1 May 2026):
- Not conducting the audit within the timeline (Reg. 25(3)) — ₹25,000 per violation.
- Late submission of the audit report — ₹100 per day for the first month past the due date, then ₹200 per day for the second month.
- If dues/penalty remain unpaid beyond two months from the due date, the RA is restricted from onboarding new clients until compliance is achieved and dues are cleared.
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Disclaimer
This post is a plain-English awareness summary, compiled with the help of AI. It is for general information only and is not legal, compliance, tax, or investment advice.
Always read the full official SEBI (Research Analysts) Regulations, 2014, the SEBI Master Circular for RAs, and the relevant BSE notices, and verify the exact requirement and dates from the official sources (bseindia.com / sebi.gov.in), or consult a qualified professional, before acting. RA Sahayak is a free, non-commercial resource and is not affiliated with SEBI, BSE, or any regulator.