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The committee concluded that the auditor failed to show due diligence and did not report the irregularities regarding the discounting of LCs and the fraudulent methods used by the branch in his audit reports

ICAI Fines Auditor Rs 2 Lakh for Failing to Flag Rs 29 Crore Bank Fraud in Audit Report

The ICAI Disciplinary Committee (Bench-II) has dismissed a complaint filed by the ROC, Mumbai, ruling that the Chartered Accountant exercised due diligence while certifying company incorporation documents.

ICAI Slams 5-Year-Late ROC Inspection: Clears CA in Alleged False Certification Case

ICAI introduces a new UDIN feature making audit opinion reporting mandatory for CAs, Days before the tax audit due date.

ICAI Tightens UDIN Compliance: CAs Question Timing Ahead of Tax Audit Deadline

The proposed changes aim to offer more flexibility and visibility to Indian firms so that they can compete with the top global companies and gain a share of the $240 billion international auditing and consulting market.

Government May Relax Rules for CAs to Advertise their Firm

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ICAI has released FAQs clarifying auditors’ opinions on financial statements, types of modified opinions, and UDIN reporting requirements.

ICAI Releases FAQs on Auditor’s Opinion in Financial Statements

The Institute of Chartered Accountants of India (ICAI) has released the revised version of its Handbook on Input Service Distributor (ISD) under GST.

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ICAI Fines Auditor Rs 2 Lakh for Failing to Flag Rs 29 Crore Bank Fraud in Audit Report

ICAI Slams 5-Year-Late ROC Inspection: Clears CA in Alleged False Certification Case

ICAI Tightens UDIN Compliance: CAs Question Timing Ahead of Tax Audit Deadline

Government May Relax Rules for CAs to Advertise their Firm

ICAI Releases FAQs on Auditor’s Opinion in Financial Statements

ICAI Releases Revised Edition of its Handbook on Input Service Distributor Under GST