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National Financial Reporting Authority: Auditor of Reliance Capital, another group company, had faced similar action last month. Anil Ambani's financial services group faced insolvency action and accounting frauds at group companies may increase the headache.
NFRA has banned the auditors of Reliance Home Finance and Reliance Commercial Finance, as well as the firms, and has also levied a penalty for irregularities in their accounts for 2018-19 period.
India Business News: NEW DELHI: National Financial Reporting Authority (NFRA) has banned auditors of Reliance Home Finance and Reliance Commercial Finance, including the f.
NFRA penalizes audit firm and auditors Rs 1.6 crore for Reliance Home Finance audit misconduct. Issues with risk assessment, fraud suspicion, and compliance highlighted. Lack of quality standards and objective review mentioned.
Reliance Home Finance: A fine of Rs 1 crore has been levied on audit firm Dhiraj & Dheeraj, Rs 50 lakh on Piyush Patni and Rs 10 lakh on Pawan Kumar Gupta. Both Patni and Gupta are partners of the Mumbai-based audit firm Dhiraj & Dheeraj.