https://www.taxtmi.com/highlights?id=77197 Professional misconduct by CA - The NFRA concluded that the actions of the firm and the engagement partner constituted professional misconduct. They failed to cooperate with the NFRA's investigation by not providing the requested information and by submitting false statements. The authority imposed a monetary penalty of fifty lakhs INR on the audit firm and thirty lakhs INR on the engagement partner. Furthermore, they were barred from being appointed as auditors or undertaking any audits related to financial statements or internal audit functions of any company or body corporate for two and ten years, respectively. en-us Tue, 07 May 2024 07:56:40 +0530 Tue, 07 May 2024 07:56:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77197 Professional misconduct by CA - The NFRA concluded that the actions of the firm and the engagement partner constituted professional misconduct. They failed to cooperate with the NFRA's investigation by not providing the requested information and by submitting false statements. The authority imposed a monetary penalty of fifty lakhs INR on the audit firm and thirty lakhs INR on the engagement partner. Furthermore, they were barred from being appointed as auditors or undertaking any audits related to financial statements or internal audit functions of any company or body corporate for two and ten years, respectively. Highlights Companies Law Tue, 07 May 2024 07:56:40 +0530 https://www.taxtmi.com/highlights?id=77197