NEW DELHI, MUMBAI: The options range from an inquiry in the form of seeking information, an inspection of books of account that is a more formal step meant to check compliance or a full-fledged investigation.
“The enforcement action will depend on the auditor’s report to the government and the gravity of any lapses by the management. If the auditor suspects any fraud, he is under the obligation to report it to the government," said a person informed about discussions in the government.
Under Section 143 of the Companies Act, a statutory auditor quitting an audit engagement must report to the government any fraud in the company if he has reason to believe that such a thing is happening.
An email sent to the spokesperson for the ministry of corporate affairs (MCA) on Friday seeking comments for the story remained unanswered at the time of publishing.
Bu hikaye Mint Mumbai dergisinin June 27, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin June 27, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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