NFRA imposes Rs 50 Lakh Fine and 2 year Ban on Audit Firm [Read Order]
Further found that the CA failed to report a material misstatement known to them to appear in a financial statement with which the CA is concerned in a professional capacity
National Financial Reporting Authority ( NFRA ) in a matter under Section 132(4) of the Companies Act 2013 read with Rule 11(6) of National Financial Reporting Authority 2018 imposed Rs 50 lakh fine and 2 year ban on audit firm. The Order disposed of the Show Cause Notice ( SCN ) issued to an CA Firm…
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