RBI debars Haribhakti & Co. LLP, Chartered Accountants from NBFC audit for 2 years from 01.04.2022
The Reserve Bank of India (RBI) has debarred M/s Haribhakti & Co. LLP, Chartered Accountants from undertaking any type of audit assignment/s in any of the entities regulated by RBI for a period of two years with effect from April 1, 2022.
The action has been taken in exercise of the powers vested under section 45MAA of the Reserve Bank of India Act, 1934 against Statutory Auditors of NBFCÂ
As per RBI Press Release, the ban has been imposed on account of the failure on the part of the audit firm to comply with a specific direction issued by RBI with respect to its statutory audit of a Systemically Important Non-Banking Financial Company.
However it has been clarified that the ban will not impact audit assignment/s of M/s Haribhakti & Co. LLP in RBI regulated entities for the financial year 2021-22
Read RBI Press Release Click Here >>
- When foundation of reopening does not survive, no addition can be made for other issues
- GST Advisory & FAQs on Electronic Credit Reversal & Re-claimed Statement & RCM Liability
- Negligence of tax payer would not make exempt income taxable – ITAT
- For a notice sent by GSTN Portal no inference may be drawn as to its actual service
- Cash deposit of Rs. 250000 cr (credit) misread as crores by AO – Plea declined
