Reporting frauds: Don t get swayed by legal opinion of cos, NFRA cautions auditors
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Many lessons are there for the Indian Start-ups from BYJU s present crisis
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Byju s case holds lessons on unicorn audit quality
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NFRA has noticed that auditors are not fulfilling their statutory responsibilities of reporting fraud as mandated under the Companies Act, 2013, read with the relevant rules and the applicable standards on auditing. Now, the role of the statutory auditor has been clarified, dispelling misconceptions that quitting the role absolves them of their responsibilities.