NFRA PENALTY FOR NON-REPORTING OF AS VIOLATIONS
An engagement partner has been penalized
not for a wrong audit opinion — but for staying silent about AS 11, AS 19 and
Schedule III violations, he observed.
If a CA’s work papers do not document the disposition of every identified AS/ Ind AS deviation, then it is now considered as a failure to report a regulatory disclosure.
#R V SEKAR FCS, LLB 79047 19295,
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