Quick Summary
In an unprecedented move that has taken the Indian auditing world by surprise, Chandra Gupta Associates, a leading Chartered Accountancy firm, has secured the statutory audit contract for Raajmarg Infra Investment Managers Private Limited, a subsidiary of the National Highways Authority of India (N
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FAQ :
Chandra Gupta & Associates, a Chartered Accountancy firm, secured the statutory audit contract.
They submitted a nominal bid of just Re 1.
A total of 43 firms from across India participated in the tender.
Experts and professionals are concerned that such a low fee could compromise audit quality and undermine professional ethics.
The Institute of Chartered Accountants of India (ICAI) issues recommended fee guidelines, but these are not legally binding. Firms are permitted to bid below these recommended fees.
Experts warn that sustained undervaluation could lead to compromised financial oversight and an erosion of professional standards.
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