Sebi mulls new mechanism for auditors

Sebi is planning to set up a new whistle-blower mechanism for auditors and ‘gate-keepers’ to report such cases. Officials said many auditors exited from companies recently at a much later stage, but a ‘confidentiality mechanism’ can help in cases of financial frauds being reported at an early stage by auditors, independent directors and others considered to be ‘gate-keepers’.