https://www.taxtmi.com/caselaws?id=308784 The National Financial Reporting Authority (NFRA) found the Engagement Partner (EP), CA Rakesh Puri, guilty of professional misconduct in the audit of Sun and Shine Worldwide Limited (SSWL). The EP's failure to detect overstatement of sales, evaluate accounting policies, exercise professional skepticism, comply with auditing standards, plan the audit properly, verify account balances, communicate with governance, and appoint an Engagement Quality Control Reviewer led to a monetary penalty of Rs. Five Lakhs and a five-year debarment from audit-related roles. These sanctions aim to maintain auditing integrity and protect investor interests. en-us Sun, 23 May 2021 00:00:00 +0530 Mon, 25 Sep 2023 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308784 The National Financial Reporting Authority (NFRA) found the Engagement Partner (EP), CA Rakesh Puri, guilty of professional misconduct in the audit of Sun and Shine Worldwide Limited (SSWL). The EP's failure to detect overstatement of sales, evaluate accounting policies, exercise professional skepticism, comply with auditing standards, plan the audit properly, verify account balances, communicate with governance, and appoint an Engagement Quality Control Reviewer led to a monetary penalty of Rs. Five Lakhs and a five-year debarment from audit-related roles. These sanctions aim to maintain auditing integrity and protect investor interests. Case-Laws Companies Law Sun, 23 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308784