https://www.taxtmi.com/caselaws?id=441224 The National Financial Reporting Authority (NFRA) found auditors guilty of professional misconduct for the statutory audit of Tanglin Developments Limited (TDL) for FY 2018-19. The auditors failed to meet auditing standards, lacked independence, tampered with audit files, did not assess risks adequately, failed to report fraudulent transactions, and did not ensure compliance with laws. NFRA imposed a monetary penalty and debarred the auditors from being appointed for a specified period. The auditors were fined and debarred from undertaking any audit work for a certain duration, with the sanctions becoming effective after 30 days. en-us Wed, 26 Apr 2023 00:00:00 +0530 Thu, 03 Aug 2023 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441224 The National Financial Reporting Authority (NFRA) found auditors guilty of professional misconduct for the statutory audit of Tanglin Developments Limited (TDL) for FY 2018-19. The auditors failed to meet auditing standards, lacked independence, tampered with audit files, did not assess risks adequately, failed to report fraudulent transactions, and did not ensure compliance with laws. NFRA imposed a monetary penalty and debarred the auditors from being appointed for a specified period. The auditors were fined and debarred from undertaking any audit work for a certain duration, with the sanctions becoming effective after 30 days. Case-Laws Companies Law Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441224