Description
BSE releases Auditor User Manual for submitting System Audit Reports (SAR) through BEFS platform via Cymmetri portal, implementing mandatory physical premises visit tracking requirements.
Summary
BSE has released the Auditor User Manual for System Audit Report (SAR) submission for the half year ended September 30, 2025. The manual provides detailed procedures for empaneled auditors to submit system audit reports through the BEFS platform via Cymmetri portal. A critical new requirement mandates auditors to login/logout on the Cymmetri platform during each physical visit to member premises, implementing SEBI circular no. SEBI/HO/MIRSD/TPD/CIR/2025/10 dated January 31, 2025.
Key Points
- Single login credentials provided to each Auditor/Audit firm for accessing all assigned member audits
- Login credentials shared via email to registered email ID post empanelment
- Mandatory location enabling requirement when logging into Cymmetri portal
- Multi-factor authentication required for portal access
- System requires Microsoft Excel version 2007 and above
- Auditors can view all members who appointed them under a single dashboard
- Modification capability available for auditor to correct member-entered information
Regulatory Changes
Implementation of SEBI circular no. SEBI/HO/MIRSD/TPD/CIR/2025/10 dated January 31, 2025, introducing mandatory physical premises visit tracking. Auditors must now use the LOGIN and LOGOUT buttons on the Cymmetri platform during each visit to member premises for physical inspection, review of infrastructure, applications, or other areas. This creates an audit trail of physical visits.
Compliance Requirements
For Auditors:
- Enable location services when logging into Cymmetri portal (mandatory)
- Complete multi-factor authentication setup
- Access BEFS through My Access menu in Cymmetri
- Navigate to SAR Empanelment > Auditor Reporting
- Select audit period and fetch assigned members
- Verify and confirm auditor details entered by members
- CRITICAL: While on member premises, login to Cymmetri and click LOGIN button before inspection
- Click LOGOUT button after completing each premises visit
- Repeat LOGIN/LOGOUT for every physical visit to member premises
- Click SUBMIT button only on the last day of final visit to member premises
- DO NOT click SUBMIT button during intermediate visits
For Members:
- Ensure correct auditor details are entered in the system
- Facilitate auditor’s physical premises visits as required
Important Dates
- Audit Period: Half year ended September 30, 2025
- Report Submission: Through Cymmetri portal as per audit completion
- Physical Visit Tracking: Effective per SEBI circular dated January 31, 2025
Impact Assessment
Operational Impact: High - Introduces mandatory physical visit tracking requirement that fundamentally changes audit workflow. Auditors must now access the online portal during each premises visit, requiring reliable internet connectivity at member locations.
Compliance Impact: High - Strict adherence required to LOGIN/LOGOUT protocol for every physical visit. Non-compliance may affect audit validity and regulatory standing of both auditors and members.
Technology Impact: Medium - Requires auditors to have mobile/portable devices with location services enabled for on-site portal access. Members may need to ensure adequate connectivity infrastructure for auditor access.
Process Impact: High - Shifts from traditional offline audit reporting to real-time visit tracking system, creating enhanced transparency and audit trail for regulatory oversight of system audit processes across all stockbrokers and trading members.
Impact Justification
Critical compliance requirement for all stockbrokers and trading members mandating system audits with strict physical premises visit tracking per SEBI regulations. Affects all auditors and members conducting half-yearly system audits.