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The Moving Goalpost For Fraud Reporting By Auditors
04 Nov 2024, 08:57 PM IST
Traditionally, the expectation from an auditor has been to comment if the financial statements of a company presented a true and fair view of its financial position and not necessarily to detect fraud. The Guidance Note on the Companies (Auditors Report) Order reinforced this expectation and clarified the role of the auditors to report frauds ‘noticed or reported’ during the course of the audit; however, it did not require auditors t...
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