Non Recognition of Interest Cost on Borrowings as Non-Performing Assets Amounts to Gross Violation of Professional Misconduct: NFRA Imposes 1 Lakh Fine on CA

By Navasree A.M - On August 3, 2023 10:45 am - 2 mins read
Non Recognition of - Interest Cost on Borrowings as Non - Performing Assets Amounts to Gross Violation of Professional Misconduct - NFRA Imposes - CA -

The National Financial Reporting Authority (NFRA) has held that non-recognition of interest cost on borrowings as non-performing assets amounts to a gross violation of professional misconduct and imposed a one lakh Fine on Chartered Accountants (CA). CA Shekhar Sharad is the partner of M/s Shekhar Sharad & Co. (ICAI Firm registration no. 011338C), Ramgarh, Jharkhand,…

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