Section 23 in The Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018
23. Inspection and audit.
(1)The Authority may if it considers necessary at any time, undertake directly or through its authorized representative an inspection and audit of the books, accounts, records including the electronic records and documents of the point of presence for any purpose, including the purposes as specified under this regulation.(2)The purposes referred to in sub-regulation (1) may include:-(a)ensuring that the books of account, records including electronic records and documents are being maintained in the manner required under these regulations;(b)ascertaining whether adequate internal control systems, procedures and safeguards have been established and are being followed by the point of presence;(c)ascertaining whether the provisions of the Act or the regulations made or circulars, guidelines or notifications issued by the Authority are being complied with;(d)inquiring into the complaints received from subscribers, nodal offices, intermediaries or any other person on any matter having a bearing on the activities assigned by the Authority to the point of presence;(e)inquiring suo motu into such matters as may be deemed fit in the interest of subscribers.(3)The Authority may, appoint one or more persons as inspecting officer or, appoint a qualified auditor to undertake the inspection or audit referred to in sub-regulation (1).Explanation. - For the purposes of this sub-regulation, the expression "qualified auditor" shall have the meaning derived from section 226 of the Companies Act, 1956 (1 of 1956) or under the Companies Act, 2013.
