https://www.taxtmi.com/caselaws?id=762647 NFRA found CA guilty of professional misconduct for accepting statutory audit engagement without valid authorization and failing to comply with Standards on Auditing. The CA showed gross negligence by not verifying compliance with Sections 139-140 of Companies Act, 2013 before accepting appointment and failed to exercise due diligence. NFRA imposed monetary penalty of Rs. 1 lakh and debarred the CA for one year from audit appointments under Section 132(4) of Companies Act, 2013. en-us Fri, 21 Jun 2024 00:00:00 +0530 Thu, 05 Dec 2024 08:37:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762647 NFRA found CA guilty of professional misconduct for accepting statutory audit engagement without valid authorization and failing to comply with Standards on Auditing. The CA showed gross negligence by not verifying compliance with Sections 139-140 of Companies Act, 2013 before accepting appointment and failed to exercise due diligence. NFRA imposed monetary penalty of Rs. 1 lakh and debarred the CA for one year from audit appointments under Section 132(4) of Companies Act, 2013. Case-Laws Companies Law Fri, 21 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762647