https://www.taxtmi.com/news?id=35306 Alleged large-scale embezzlement at a cooperative bank led the Economic Offences Wing to probe significant discrepancies between recorded cash balances and physically available vault cash; several former senior executives and an outside developer were arrested, multiple audit firms have been summoned to explain why audits failed to detect the shortfall, a forensic audit may be sought, and the regulator has superseded the bank's board and appointed an administrator while criminal charges for criminal breach of trust and criminal conspiracy have been registered. en-us Tue, 25 Feb 2025 23:31:03 +0530 Tue, 25 Feb 2025 23:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=35306 Alleged large-scale embezzlement at a cooperative bank led the Economic Offences Wing to probe significant discrepancies between recorded cash balances and physically available vault cash; several former senior executives and an outside developer were arrested, multiple audit firms have been summoned to explain why audits failed to detect the shortfall, a forensic audit may be sought, and the regulator has superseded the bank's board and appointed an administrator while criminal charges for criminal breach of trust and criminal conspiracy have been registered. News - Tue, 25 Feb 2025 23:31:03 +0530 https://www.taxtmi.com/news?id=35306