Audit Lapses in SRS Limited: NFRA Imposes 3 Year Ban and Rs. 3 Lakh Penalty for Two Chartered Accountants

Audit Lapses in SRS Limited - SRS Limited - NFRA - Penalty - Audit Lapses - Chartered Accountants - taxscan

The auditor-regulator, the National Financial Reporting Authority (NFRA) has imposed a penalty of Three lakhs on the statutory auditor of now-de-listed company SRS Ltd, along with a three-year ban on taking up statutory or internal audits of any company, for alleged professional misconduct and lapses in the FY18 audit of the company. In the year…

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