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NISM Series-XIV: Internal Auditors for Stock Brokers Certification Examination w.e.f November 17, 2017.

The examinations seeks to create a common minimum knowledge benchmark for Auditors (who are chartered accountants, company secretaries or cost and management accountants as mentioned in SEBI Circular no. MRD/DMS/Cir-29/2008 dated October 21, 2008) and/or its employees or partners signing the internal audit report.

The exam will further seek to ensure understanding of regulatory framework under which the stock brokers perform their various activities, the operations performed by the Stock brokers and compliance and reporting requirements from audit perspective.

Examination Objectives:

The examination seeks to create a common minimum knowledge benchmark for Independent Chartered Accountants, Company Secretaries and Management Accountants, who carry out Internal Audit of the Operations of Stock Brokers/Clearing Members.

On successful completion of the examination the candidate should:

  • Know regulatory framework under which the stock brokers perform their various activities.
  • Understand the various operations performed by the Stock brokers
  • Understand the various compliance and reporting requirements from audit perspective

Assessment Structure

The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score on the examination is 60 percent. There shall be negative marking of 25 percent of the marks assigned to a question.

Test Details

Name of Examination: NISM Series-XIV: Internal Auditors for Stock Brokers Certification Examination

Fees (Rs.)

Test Duration (in minutes)

No. of Questions

Maximum Marks

Pass Marks* (%)

Certificate # Validity (in years)

1770+

120

100

100

60

3

*: Negative marking - 25% of the marks assigned to the question

# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.

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