Comments
The Government today said 427 companies and 104 audit firms have been found guilty of violating accounting principles and other financial irregularities during the last three years.
“As per the latest information available, 427 companies and 104 audit firms were found guilty of violating the accounting principles and financial irregularities,” Corporate Affairs Minster Sachin Pilot said in a written reply to Rajya Sabha.
He further said that penal action for violations has been initiated against such companies and audit firms under the provisions of the Companies Act 1956.
However, the Minister did not specify the losses suffered by the exchequer due to such irregularities.
Earlier in September, the Government had said a total of 316 companies and 73 audit firms were found guilty of violating accounting principles and other financial irregularities in the past three years.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.