Failure to perform Proper Audit on Non-Disclosure of Step Down Subsidiaries: ICAI imposes 1Lakh Fine on CA [Read Order]

Proper Audit - ICAI imposes 1Lakh Fine on CA - ICAI - CA - Fine - Fine on CA - Subsidiaries - taxscan

The Institute of Chartered Accountants of India (ICAI) imposed 1 lakh fine on Chartered Accountants (CA) due to the failure to perform proper audit on non-disclosure of Step Down Subsidiaries. It was alleged that the Respondent did not perform the proper audit procedure in disclosing the step-down subsidiary company in the consolidated financials of the…

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