https://www.taxtmi.com/caselaws?id=446636 NFRA's disciplinary role under the Companies Act, 2013 is described as overriding ICAI in professional misconduct matters involving auditors of covered companies, and the forum change was treated as applicable to prior or pending audits because no vested right exists in a particular adjudicatory forum. The text also states that branch auditors remain bound by mandatory Standards on Auditing, including core duties of planning, documentation, risk assessment, evidence and reporting, and that failure to maintain contemporaneous records or verify appointment conditions can amount to professional misconduct and breach of ethical obligations. Procedural objections without demonstrated prejudice were rejected, and the penalties and debarment were found proportionate, with no automatic stay arising from appeal and partial deposit. en-us Fri, 01 Dec 2023 00:00:00 +0530 Wed, 06 Dec 2023 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446636 NFRA's disciplinary role under the Companies Act, 2013 is described as overriding ICAI in professional misconduct matters involving auditors of covered companies, and the forum change was treated as applicable to prior or pending audits because no vested right exists in a particular adjudicatory forum. The text also states that branch auditors remain bound by mandatory Standards on Auditing, including core duties of planning, documentation, risk assessment, evidence and reporting, and that failure to maintain contemporaneous records or verify appointment conditions can amount to professional misconduct and breach of ethical obligations. Procedural objections without demonstrated prejudice were rejected, and the penalties and debarment were found proportionate, with no automatic stay arising from appeal and partial deposit. Case-Laws Companies Law Fri, 01 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446636