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Rakshit lodharakshit lodha asked 12 months ago

What happens when auditor not comply with SAs like in SA200 he not comply with ethical requirement then what will happen .
 

1 Answers
RaviRavi Staff answered 12 months 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

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