Expansion comes after public procurement exercise initiated in November 2025 and based on existing panel formed in April 2025; regulator has a bigger pool of auditors to look into possible financial misdeeds
Indian capital markets watchdog has significantly expanded its list of firms authorised to conduct forensic audits of listed companies by adding 18 more entities to its empanelled auditors. Among the new entities added are the likes of the country’s top-tier professional services firms – Ernst & Young LLP, KPMG Assurance and Consulting Services LLP, Grant Thornton Bharat LLP and Nangia & Co LLP which made it to the latest list.
How Was The Selection Done
Selection has been made following the process initiated through a public procurement notice floated by the Securities and Exchange Board of India (SEBI) in November 2025. The latest batch of 18 empanelled firms have been added to the forensic auditor panel which SEBI had released on April 2025. This empanelment is for a period of three years from the date of release of the list, SEBI said in a July 15th notification.
Who Else is Added
The additional names apart from the Big Four firms, are J C Kabra and Associates, J Mandal and Co LLP, J Singh and Associates, Jain Jagawat Kamdar and Company, Pipara and Co LLP, R Kabra and Co LLP, R S Patel and Co, Ravi Rajan and Co LLP, S S Periwal and Co, Sarath and Associates, SKVM and Company, V Singhi and Associates, ASA and Associates LLP, and CLA Indus Value Consulting.
What it Matters
The SEBI forensic auditor panel consists of firms appointed to probe suspected financial misdeeds of listed companies. SEBI’s objective behind the empanelment process is to promote transparency and instill investor confidence.
With a bigger list of forensic audit firms, SEBI would be in a better position to appoint forensic audit to several cases simultaneously and would have greater flexibility.
“The empanelment is a testimony to Nangia and Co LLP’s commitment to forensic excellence and investor protection. We are eager to support SEBI in its endeavour to uphold a fair and transparent securities market through our independent forensic audits,” said Srinivasa Rao, Senior Partner, Forensic Advisory at Nangia and Co LLP.
