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Raid reporting requirement

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(Querist)
20 September 2016 If CBI raids a company but no demand/liability raised by CBI, would there be any liability of Auditors to report on the same? Is there any liability on the company to disclose the issue somewhere in the notes to accounts? Please suggest.
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Amol S Joglekar

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Amol S Joglekar (Expert)
20 September 2016 it is to be notified by the auditor as well as the directors.
It may or may not have FINANCIAL implication. Based on the same , it is to be included in accounts. Else only reporting is enough
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