Mumbai, Oct 12 (SocialNews.XYZ) The Reserve Bank of India (RBI) has debarred chartered accountants Haribhakti and Co LLP from undertaking any type of audit assignments in any of the entities regulated by it for a period of two years with effect from April 1, 2022.
The action has been taken on account of the failure on the part of the audit firm to comply with a specific direction issued by the RBI with respect to its statutory audit of a Systemically Important Non-Banking Financial Company.
The RBI decision will, however, not impact audit assignments of the audit firm in RBI regulated entities for the financial year 2021-22.
The action against statutory auditors of the NBFC has been taken under section 45MAA of The RBI Act, 1934, empowers the central bank to take action against auditors of NBFCs.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz