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Bhargav Nirmal asked 3 months ago

Fraud , which involves or is expected to involve individual an amount of ₹ 1 crore or above than audit should report to CG.
in this it is written that individual amount is 1 cr or above so if auditor find fraud of 49lakh in advertisement expenses & 51 lakh in commission expenses so auditor should report to CG because individual amount is less than 1 cr ?

1 Answers
RaviRavi Staff answered 2 months ago

as per guidance notes limit is for individual fraud
if both are not of same nature and by same set of people then there will be separate reporting
reason being for every fraud reporting start within 2 days and have separate time line for reporting

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