https://www.taxtmi.com/article/detailed?id=5315 Section 130 permits reopening and recasting of accounts where earlier financials are fraudulent or unreliable; Section 131 allows the Board, with Tribunal approval, to prepare limited revised financial statements or Board reports subject to prescribed limits and procedural rules; Section 132 provides for a National Financial Reporting Authority to monitor accounting and auditing standards and investigate professional misconduct; Section 134 mandates Board approval, attachment of auditors' reports and a Directors' report with signed circulation and prescribes penalties for contraventions. The Act strengthens enforcement through auditor removal, penalties, disqualification of directors, SFIO investigations and member/depositor remedies, placing compliance obligations on company officers and governance frameworks. en-us Sat, 12 Oct 2013 10:22:52 +0530 Fri, 15 Nov 2013 14:35:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5315 Section 130 permits reopening and recasting of accounts where earlier financials are fraudulent or unreliable; Section 131 allows the Board, with Tribunal approval, to prepare limited revised financial statements or Board reports subject to prescribed limits and procedural rules; Section 132 provides for a National Financial Reporting Authority to monitor accounting and auditing standards and investigate professional misconduct; Section 134 mandates Board approval, attachment of auditors' reports and a Directors' report with signed circulation and prescribes penalties for contraventions. The Act strengthens enforcement through auditor removal, penalties, disqualification of directors, SFIO investigations and member/depositor remedies, placing compliance obligations on company officers and governance frameworks. Articles Corporate Laws / IBC / SEBI Sat, 12 Oct 2013 10:22:52 +0530 https://www.taxtmi.com/article/detailed?id=5315