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Jay buchjay buch asked 2 years ago

Sir,if company has defaulted in repaying loan but it was not declared as NPA because it repaid before being declared as NPA,should the auditor report such temporary default in CARO ? If such q are asked in xam what should be the exact answer ?i mean how to quote the provision of law ?

1 Answers
RaviRavi Staff answered 2 years ago

Yes he should report all defaults in repayment of Loans to Govt / Banks / FI / Debenture Holders . Period of Default / Amount of Default / Auditor can specify that default is cleared by year end.

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