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CA Gautam Guha vs National Financial Reporting Authority (NFRA) | Professional Misconduct in Statutory Audit of Nicco Uco Alliance Credit Limited
Facts of the CaseThe Financial Reporting Review Board (FRRB) of the
Institute of Chartered Accountants of India identified several irregularities
in the financial statements of Nicco Uco Alliance Credit Limited for FY
...
National Financial Reporting Authority (NFRA) vs M/s M H Dalal & Associates & CA Devang Dalal NFRA Imposes Penalty and Debarment for Gross Audit Failures in MAN Industries (India) Limited Audit – Failure to Obtain Sufficient Audit Evidence, Non-Compliance with Ind AS and Standards on Auditing
Facts of the
CaseThe National Financial Reporting Authority (NFRA)
initiated proceedings under Section 132(4) of the Companies Act, 2013 against
M/s M H Dalal & Associates, Chartered Accountants, and CA Devang Dal...
National Financial Reporting Authority (NFRA) vs. CA Sachin Kansal (Engagement Partner of Anshu's Clothing Ltd.) – Professional Misconduct in Statutory Audit under Section 132(4) of the Companies Act, 2013
Facts of the CaseThe National Financial Reporting Authority (NFRA)
initiated an investigation based on information received from the Ministry of
Corporate Affairs regarding irregularities observed by the Financial Repo...
National Financial Reporting Authority (NFRA) vs M/s ASRMP & Co., CA A.S. Sundaresha & CA Madhusudan U.A. | Audit Failures in Coffee Day Global Limited Matter | NFRA Order No. 24/2023
Facts of the CaseCoffee Day Global Limited (CDGL), a subsidiary of
Coffee Day Enterprises Limited (CDEL), was subjected to scrutiny following
investigations revealing diversion of funds amounting to approximately ₹3,...
National Financial Reporting Authority (NFRA) vs CA Riya Agarwal | Penalty for Failure of Engagement Quality Control Review (EQCR) in Burnpur Cement Limited Audit under Section 132(4) of the Companies Act, 2013
Facts of the CaseBurnpur Cement Limited (BCL), a listed company
engaged in the cement manufacturing business, was required to prepare its
financial statements for FY 2017-18 in accordance with Indian Accounting
Standa...
National Financial Reporting Authority (NFRA) vs CA Shekhar Sharad | Auditor Held Guilty for Failure to Assess Going Concern Assumption and Violation of SA 570, SA 705 & SA 706 in Burnpur Cement Limited Audit
Facts of the CaseBurnpur Cement Limited (BCL), a listed cement manufacturing
company, prepared its financial statements for FY 2017-18 on a going concern
basis despite severe financial distress.The company had reported...
CA T. Raghavendra vs National Financial Reporting Authority (NFRA) | Professional Misconduct in Statutory Audit of Bartronics India Limited | Penalty of ₹5 Lakhs and 10-Year Debarment
Facts of the CaseThe Ministry of Corporate Affairs referred the
matter to NFRA after the Financial Reporting Review Board (FRRB) of ICAI
observed significant irregularities in the financial statements of Bartronics
In...
National Financial Reporting Authority (NFRA) vs M/s Sundaresha & Associates & Ors. | Failure to Detect Fraudulent Diversion of Funds, Evergreening of Loans, Audit Negligence and Professional Misconduct in Tanglin Developments Ltd (Coffee Day Group) Audit
Facts of the CaseThe matter arose from investigations conducted by
the Securities and Exchange Board of India (SEBI) regarding diversion of funds
amounting to approximately ₹3,535 Crores from various subsidiary compa...
National Financial Reporting Authority (NFRA) vs M/s K. Pandeya & Co. & CA Manjeet Kumar Verma | Audit Negligence, Going Concern Assessment Failure, Income Tax Liability Non-Disclosure and Professional Misconduct under Section 132 of Companies Act, 2013
Facts of the CaseBurnpur Cement Limited (BCL), a listed company
engaged in cement manufacturing, was subjected to statutory audit for the
Financial Year 2018-19 by M/s K. Pandeya & Co., with CA Manjeet Kumar Verma
...
CA Apoorve Bansal vs National Financial Reporting Authority (NFRA) | Penalty and Debarment for Failure as Engagement Quality Control Reviewer in SRS Limited Audit
Facts of the CaseThe Serious Fraud Investigation Office (SFIO)
conducted an investigation into the affairs of SRS Limited and its group
companies and shared its findings with NFRA. The investigation revealed alleged
f...