rakshit lodha asked 3 years ago
What happens when auditor not comply with SAs like in SA200 he not comply with ethical requirement then what will happen .
1 Answers
Ravi Staff answered 3 years ago
Non Compliance of SA
Will lead to punishment under ca act, it will be misconduct under clause 9 of part 1 of second schedule, so maximum punishment of 5,00,000 or permanent removal from membership
Will lead to non compliance of Sec 143(9), now there is no punishments for this non compliance after amendment
There can be further implication under indian penal code if people suffer losses