NFRA flags deficiencies in BSR & Co’s audit of related party transactions, ET LegalWorld
New Delhi: The National Financial Reporting Authority (NFRA) has highlighted significant shortcomings in the audit practices of BSR & Co LLP, a KPMG sub-licensee, particularly in related party transactions. The audit regulator’s inspection was conducted in August 2024, which reviewed three BSR audit engagements from the FY ending March 2022 and March 2023. In a […]
RBI penalises Axis Bank, HDFC Bank for deficiencies in regulatory compliance, ET LegalWorld
The RBI has imposed penalties totalling Rs 2.91 crore on Axis Bank and HDFC Bank for certain deficiencies in statutory and regulatory compliance. In a statement on Tuesday, the Reserve Bank of India (RBI) said a penalty of Rs 1.91 crore has been imposed on Axis Bank for contravention of certain provisions of the Banking […]