Non Compliance of CARO

This query is : Resolved

Deepak Choudhry (Querist)
Follow

18 December 2009 Can the directors be held responsible for non compliance of CARO ?
If yes, how ?
What is the liability of directors for non compliance of accounting standards ?

Rasesh

Rasesh (Expert)
Follow

19 December 2009 The directors can be responsible.

The auditor can qualify the accounts and give adverse remarks / qualifications in the auditors report. The Directors have to reply to the qualifications in their Directors Report which is a public document and also respond to the shareholders at the AGM.

Generally, qualifications / adverse remarks also catch the attention of all regulators who can take necessary actions against the directors.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Vidit Ratanghayra

CA Varun Gupta

Pawan Haryani

Naresh Dhawan

Tanishka Khandelwal

Subscribe Now

Non Compliance of CARO

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Article Assistant

GST CONSULTANT

GST CONSULTANCY

CA Final

Manager- Finance and Compliance