https://www.taxtmi.com/caselaws?id=308785 A statutory auditor of a listed entity must identify and report material misstatements, maintain adequate audit evidence and documentation, and comply with mandatory auditing and quality control standards. Failure to report the understatement of interest costs and liabilities, reliance on unsubstantiated management assertions, deficient audit records, and omission of the required engagement quality control review constituted proved professional misconduct and lack of due diligence. The misconduct justified monetary penalty, three-year debarment, and a direction to complete training in auditing and accounting standards. en-us Mon, 12 Sep 2022 00:00:00 +0530 Sat, 22 Jul 2023 20:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308785 A statutory auditor of a listed entity must identify and report material misstatements, maintain adequate audit evidence and documentation, and comply with mandatory auditing and quality control standards. Failure to report the understatement of interest costs and liabilities, reliance on unsubstantiated management assertions, deficient audit records, and omission of the required engagement quality control review constituted proved professional misconduct and lack of due diligence. The misconduct justified monetary penalty, three-year debarment, and a direction to complete training in auditing and accounting standards. Case-Laws Companies Law Mon, 12 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308785