| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
KHANDELWAL KAKANI & CO.
(M.No.:001311C)
|
|
|
|
SANTOSH DESHMUKH
(M.No.:071011)
|
|
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT EXERCISE DUE CARE AND PROFESSIONAL SKEPTICISM AND DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE TO SUPPORT ISSUER’S NET ACCOUNTS RECEIVABLES AND DOUBTFUL ACCOUNTS
DID NOT EXERCISE DUE DILIGENCE AND BEING GROSSLY NEGLIGENT IN CONDUCT OF PROFESSIONAL DUTIES
DID NOT OBTAIN REASONABLE ASSURANCE ABOUT WHETHER FINANCIAL STATEMENTS AS A WHOLE WERE FREE FROM MATERIAL MISSTATEMENT
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE FOR VERIFICATION OF REVENUE
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING EXISTENCE AND CONDITION OF INVENTORY
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE WITH RESPECT TO ISSUER’S INVESTMENTS
DID NOT PREPARE AUDIT DOCUMENTS AS PER STANDARDS ON AUDITING 230
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING SECTION 143(9) OF COMPANIES ACT, 2013
|
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 09-OCT-2024 TO 08-OCT-2025
IMPOSED PENALTY RS.5,00,000
09-SEP-2024
|
|
| 2 |
|
|
KRISHNA NEERAJ & ASSOCIATES
(M.No.:023233N)
|
|
|
DID NOT RELATED TO NON-RECOGNITION OF LIABILITIES CLASSIFIED AS NON-PERFORMING ASSETS (NPAS) BY LENDER BANKS
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING SECTION 143(9) OF COMPANIES ACT, 2013
DID NOT DETERMINE MATERIALITY AND PERFORMANCE MATERIALITY VIOLATING PARA 10 OF STANDARDS ON AUDITING 320
DID NOT EVALUATE MANAGEMENT’S ASSESSMENT OF ENTITY’S ABILITY TO CONTINUE AS GOING CONCERN
DID NOT FORM OPINION ON FINANCIAL STATEMENT WITHOUT OBTAINING SUFFICIENT APPROPRIATE AUDIT EVIDENCE
DID NOT IDENTIFY AND ASSESS RISK OF MATERIAL MISSTATEMENT DUE TO FRAUD RELATED TO REVENUE RECOGNITION
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING EXISTENCE AND CONDITION OF INVENTORY
DID NOT PERFORM ROLE OF ENGAGEMENT QUALITY CONTROL REVIEW (EQCR) OBJECTIVELY
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT DOCUMENTATION
DID NOT AUDIT TRADE RECEIVABLES IN ACCORDANCE WITH REQUIREMENT OF STANDARDS ON AUDITING
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
|
IMPOSED PENALTY RS.50,00,000
26-APR-2024
|
|
| 3 |
|
|
KRISHNA NEERAJ & ASSOCIATES
(M.No.:023233N)
|
|
|
|
KRISHNA KUMAR NEERAJ
(M.No.:506669)
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT DOCUMENTATION
DID NOT AUDIT TRADE RECEIVABLES IN ACCORDANCE WITH REQUIREMENT OF STANDARDS ON AUDITING
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT DETERMINE MATERIALITY AND PERFORMANCE MATERIALITY VIOLATING PARA 10 OF STANDARDS ON AUDITING 320
DID NOT EVALUATE MANAGEMENT’S ASSESSMENT OF ENTITY’S ABILITY TO CONTINUE AS GOING CONCERN
DID NOT FORM OPINION ON FINANCIAL STATEMENT WITHOUT OBTAINING SUFFICIENT APPROPRIATE AUDIT EVIDENCE
DID NOT IDENTIFY AND ASSESS RISK OF MATERIAL MISSTATEMENT DUE TO FRAUD RELATED TO REVENUE RECOGNITION
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING EXISTENCE AND CONDITION OF INVENTORY
DID NOT PERFORM ROLE OF ENGAGEMENT QUALITY CONTROL REVIEW (EQCR) OBJECTIVELY
DID NOT RELATED TO NON-RECOGNITION OF LIABILITIES CLASSIFIED AS NON-PERFORMING ASSETS (NPAS) BY LENDER BANKS
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING SECTION 143(9) OF COMPANIES ACT, 2013
|
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 26-MAY-2024 TO 25-MAY-2026
IMPOSED PENALTY RS.10,00,000
26-APR-2024
|
|
| 4 |
|
|
OSWAL SUNIL & CO.
(M.No.:016520N)
|
|
|
|
NARESH KUMAR
(M.No.:085238)
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT DOCUMENTATION
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO FRAUD/SUSPECTED FRAUD AS REQUIRED BY PARAS 16 AND 24 OF STANDARDS ON AUDITING 240
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO JOINT AUDIT AS REQUIRED BY PARAS 2 AND 3 OF STANDARDS ON AUDITING 299
DID NOT DETERMINE MATERIALITY FOR FINANCIAL STATEMENTS AS A WHOLE WHILE ESTABLISHING AUDIT STRATEGY VIOLATING STANDARDS ON AUDITING 320
DID NOT DEVELOP AND DOCUMENT THE AUDIT PLAN AND AUDIT STRATEGY THAT SET THE SCOPE, TIMING AND DIRECTION OF AUDIT VIOLATING STANDARDS ON AUDITING 300
DID NOT EVALUATE PROPERTY, PLANT AND EQUIPMENT AS REQUIRED BY PARAS 6, 15 AND 16 OF STANDARDS ON AUDITING 200 AND 500
DID NOT GIVE APPROPRIATE AUDIT OPINION
DID NOT PERFORM DUTIES WITH RESPECT TO UNUSUAL TRANSACTIONS VIOLATING PARA 28 OF STANDARDS OF ACCOUNTING 315 AND PARA 16 OF STANDARDS OF ACCOUNTING 550 AND PARA 32(C) OF STANDARDS ON AUDITING 240
DID NOT REPORT NON-COMPLIANCE WITH IND STANDARDS ON AUDITING 36 IMPAIRMENT OF ASSETS
SUBMITTED FALSE AND MISLEADING STATEMENTS RELATED TO ENGAGEMENT OF QUALITY CONTROL REVIEW (EQCR) PARTNER
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING SECTION 143(9) OF COMPANIES ACT, 2013
|
IMPOSED PENALTY RS.3,00,000
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 21-MAY-2023 TO 20-MAY-2026
21-APR-2023
|
|
| 5 |
|
|
SVP & ASSOCIATES
(M.No.:003838N)
|
|
|
|
PANKAJ KUMAR
(M.No.:091822)
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT DOCUMENTATION
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO FRAUD/SUSPECTED FRAUD AS REQUIRED BY PARAS 16 AND 24 OF STANDARDS ON AUDITING 240
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO JOINT AUDIT AS REQUIRED BY PARAS 2 AND 3 OF STANDARDS ON AUDITING 299
DID NOT DETERMINE MATERIALITY FOR FINANCIAL STATEMENTS AS A WHOLE WHILE ESTABLISHING AUDIT STRATEGY VIOLATING STANDARDS ON AUDITING 320
DID NOT DEVELOP AND DOCUMENT THE AUDIT PLAN AND AUDIT STRATEGY THAT SET THE SCOPE, TIMING AND DIRECTION OF AUDIT VIOLATING STANDARDS ON AUDITING 300
DID NOT EVALUATE PROPERTY, PLANT AND EQUIPMENT AS REQUIRED BY PARAS 6, 15 AND 16 OF STANDARDS ON AUDITING 200 AND 500
DID NOT GIVE APPROPRIATE AUDIT OPINION
SUBMITTED FALSE AND MISLEADING STATEMENTS RELATED TO ENGAGEMENT OF QUALITY CONTROL REVIEW (EQCR) PARTNER
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING SECTION 143(9) OF COMPANIES ACT, 2013
|
IMPOSED PENALTY RS.3,00,000
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 21-MAY-2023 TO 20-MAY-2026
21-APR-2023
|
|
| 6 |
|
|
SVP & ASSOCIATES
(M.No.:003838N)
|
|
|
|
PANKAJ KUMAR
(M.No.:091822)
|
|
DID NOT ADHERE TO RESPONSIBILITIES RELATING TO AUDIT DOCUMENTATION
DID NOT APPOINT ENGAGEMENT OF QUALITY CONTROL REVIEWER (EQCR)
DID NOT COMMUNICATE DEFICIENCIES IN INTERNAL CONTROL TO THOSE CHARGED WITH GOVERNANCE (TCWG) AND MANAGEMENT VIOLATING STANDARDS OF AUDITING
DID NOT COMMUNICATE WITH THOSE CHARGED WITH GOVERNANCE (TCWG)
DID NOT DETERMINE MATERIALITY FOR FINANCIAL STATEMENTS AS A WHOLE WHILE ESTABLISHING AUDIT STRATEGY VIOLATING STANDARDS ON AUDITING 320
DID NOT EVALUATE RISK OF FRAUD IN REVENUE RECOGNITION
DID NOT GIVE APPROPRIATE AUDIT OPINION
DID NOT IDENTIFY AND ASSESS RISK OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING NATURE OF ENTITY
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING ENTITY’S ABILITY TO CONTINUE AS GOING CONCERN
DID NOT OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE REGARDING EXISTENCE AND CONDITION OF INVENTORY
DID NOT PLAN AUDIT OF FINANCIAL STATEMENTS AS PER STANDARDS ON AUDITING 300
DID NOT ADHERE TO STANDARDS ON AUDITING VIOLATING SECTION 143(9) OF COMPANIES ACT, 2013
|
IMPOSED PENALTY RS.3,00,000
DEBARRED FROM BEING APPOINTED AS AUDITOR OR INTERNAL AUDITOR OR UNDERTAKING ANY AUDIT IN RESPECT OF FINANCIAL STATEMENTS OR INTERNAL AUDIT OF FUNCTIONS AND ACTIVITIES OF ANY COMPANY OR BODY CORPORATE FROM 21-MAY-2023 TO 20-MAY-2026
08-JAN-2024
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
