Auditor penalties under the Companies Act include fines, imprisonment for willful deception, and liability to refund remuneration. Section 147 prescribes fines for companies and officers for contravening audit provisions, and specific fines or remuneration based penalties for auditors; knowing or wilful deception by an auditor attracts imprisonment and higher fines. Convicted auditors must refund remuneration and pay damages for losses from misleading audit statements. Audit firms and culpable partners bear joint and several liability for fraudulent acts, while the Central Government may designate bodies to ensure prompt payment and reporting of damages.