https://www.taxtmi.com/caselaws?id=762647 An auditor who accepted a branch audit without first verifying that the appointment complied with statutory requirements was found to have acted without due diligence and professional skepticism, and the charge was proved. The auditor also failed to comply with applicable Standards on Auditing because no valid engagement letter or contemporaneous record of the agreed scope was produced, and the audit file lacked basic documentation of procedures, evidence and conclusions; this non-compliance was proved. Those lapses were treated as professional misconduct under the disciplinary framework, and monetary penalty and debarment were imposed. 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 An auditor who accepted a branch audit without first verifying that the appointment complied with statutory requirements was found to have acted without due diligence and professional skepticism, and the charge was proved. The auditor also failed to comply with applicable Standards on Auditing because no valid engagement letter or contemporaneous record of the agreed scope was produced, and the audit file lacked basic documentation of procedures, evidence and conclusions; this non-compliance was proved. Those lapses were treated as professional misconduct under the disciplinary framework, and monetary penalty and debarment were imposed. Case-Laws Companies Law Fri, 21 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762647