Audit Firm Penalised for Submitting Falsified Affidavit & to Avoid Submitting Information to NFRA
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- Last Updated on 30 April, 2024
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NFRA imposed a monetary penalty of Rs. Fifty lakhs on Audit Firm, Rs. Thirty lakhs on Engagement Partner for unwillingness to cooperate with NFRA, unjustified extension of period, non-submission of requisite information and lapse of multiple opportunities of personal hearing. Additionally, NFRA debarred Audit firm and EP for a period of two years and ten years from being appointed as auditor for any audit assignment.
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