Category: NFRA
NFRA finds significant deficiency in the verification of related party transactions and arm’s length price by PWCA LLP Section 132 of the Companies Act, 2023 inter alia, mandates NFRA, to monitor compliance with Auditing and Accounting Standards, to oversee the quality of service of the professions associated with …
Mere disclaimer of opinion not enough-NFRA holds CA guilty of professional misconduct In a recent order, NFRA has held that though the chartered accountant issued a disclaimer of opinion both on Financial Statements and on the Internal Financial Controls, he was guilty of professional misconduct on account of …
NFRA penalises Chartered Accountant for misrepresenting facts holding that misrepresenting facts in NFRA proceedings amounts to professional misconduct. In a recent judgment, National Financial Reporting Authority (NFRA) has penalised a CA holding that misrepresentation of facts during NFRA proceedings under section 132(4) of the Companies Act 2013 amounted …
NFRA imposed a penalty of Rs. 10 crores on CA firm in Cafe Coffee Day company Scam In a recent judgment, NFRA has imposed a heavy exemplary penalty of Rs. 10 crores on CA firm and Rs. 50 lakhs on engagement partner and ban for 10 years for misconduct …
NFRA imposes penalty of Rs. 4.50 crores on CA/Audit Firm for professional misconduct for not exercising due diligence In a recent order, the NFRA has imposed penalty of Rs. 4.50crores on CA/Audit Firm for professional misconduct for not exercising due diligence and not adhering to the requirements as …
NFRA imposes penalty of Rs. 25 lakhs and debars CA for 7 years for professional misconduct in statutory audit of ILFS Financial Services Ltd ABCAUS Case Law Citation:ABCAUS 3338 (2020) (07) NFRA The National Financial Reporting Authority (NFRA / Authority) helds CA guilty of professional misconduct for performance …
