The audit regulator, the National Financial Reporting Authority (NFRA), has found lapses in BSR and Associates\u2019 audit of IL&FS Financial Services (IFIN) and said it was not eligible to be appointed as the statutory auditor of the firm. <\/p>\n
In its audit quality review report released on Monday, the NFRA said BSR, a KPMG affiliate, violated the provision of non-audit services and had business relationships with the company at the date of its appointment. <\/p>\n
A statement by BSR said, \u201cWe are concerned to note the conclusions by the NFRA in the audit quality review as they do not give due consideration to all the facts and circumstances that were transparently shared by us with the NFRA during their review.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The audit regulator, the National Financial Reporting Authority (NFRA), has found lapses in BSR and Associates\u2019 audit of IL&FS Financial Services (IFIN) and said it was not eligible to be appointed as the statutory auditor of the firm. In its audit quality review report released on Monday, the NFRA said BSR, a KPMG affiliate, violated the provision of non-audit services and had business relationships with the company at the date of its appointment. A statement by BSR said, \u201cWe are concerned to note the conclusions by the NFRA in the audit quality review as they do not give due consideration […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,168],"tags":[],"class_list":["post-368216","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/368216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=368216"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/368216\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=368216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=368216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=368216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}