Performing Audit of Public Company with Conflict of Interest and Other Professional Misconduct: NFRA slams CA with 5 Lakh Penalty and 5 Year Ban from Auditing [Read Order]

NFRA slaps 5 Lakh Penalty and 5 Years Ban on CA for Professional Misconduct during Audit.
Performing Audit - Public Company - Interest - Professional Misconduct - NFRA - Conflict - NFRA slams CA - taxscan

The National Financial Reporting Authority (NFRA) has imposed a penalty of Rs. 5 Lakhs and banned the Chartered Accountant of S Kumars Nationwide Limited (SKNL), SKNL being a listed company comes under the jurisdiction of NFRA in terms of Rule 3 of NFRA Rules 2018. It was engaged in textile business during the relevant period….

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