Sebi tells firms to publish financial statements

Our Markets Bureau

Mumbai, July 17: The Securities and Exchange Board of India accounting standards committee on Tuesday made it mandatory for companies to publish their consolidated financial statements and segment reporting.

The panel headed by Mr YH Malegam also made it mandatory, the reporting of deferred taxes, related party transactions and earning per share. The decisions were taken based on the standards issued by the Institute of Chartered Accountants of India and as per the recommendations of the Kumar Mangalam Birla Committee on corporate governance. The sub-committee on disclosure and accounting by dotcom firms has recommended that they shall be required to disclose all qualitative and quantitative business information.