https://www.taxtmi.com/news?id=23037 NFRA concluded in its Audit Quality Review Report that the appointment of BSR & Associates LLP as statutory auditor of IL&FS Financial Services Limited was ab initio illegal and void, and identified significant non compliance with the Standards of Auditing resulting in material misstatements, deficient going concern assessment, lack of communication with Those Charged With Governance, inappropriate materiality determination, and systemic IT process deficiencies; NFRA will consider initiation of disciplinary proceedings under the Companies Act. en-us Mon, 17 Aug 2020 16:25:53 +0530 Mon, 17 Aug 2020 16:25:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23037 NFRA concluded in its Audit Quality Review Report that the appointment of BSR & Associates LLP as statutory auditor of IL&FS Financial Services Limited was ab initio illegal and void, and identified significant non compliance with the Standards of Auditing resulting in material misstatements, deficient going concern assessment, lack of communication with Those Charged With Governance, inappropriate materiality determination, and systemic IT process deficiencies; NFRA will consider initiation of disciplinary proceedings under the Companies Act. News - Mon, 17 Aug 2020 16:25:53 +0530 https://www.taxtmi.com/news?id=23037