CA Misconduct: NFRA imposes Rs. 50 Lakh Penalty on Quess Corp Ltd Auditor for Lack of Due Diligence in Certification of Form 10 DA

NFRA slaps Auditor with a Penalty of Rs. 50 Lakhs for Certification of Form 10 DA
By Manu Sharma - On January 8, 2024 1:45 pm - 2 mins read
NFRA - CA misconduct - Quess Corp auditor penalty - Professional misconduct - NFRA audit violation - Quess Corp Ltd - taxscan

The National Financial Reporting Authority (NFRA) has imposed a substantial penalty of Rs 50 lakhs, on a chartered accountant for professional misconduct. This misconduct facilitated business services provider Quess Corp in wrongfully claiming an income tax deduction of nearly Rs 971 crore over three fiscal years. According to the order released on Thursday, the audit…

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