Liabilities of An

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Income Tax 1961 11 31

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Liabilities an Auditor
of
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amms'size
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zig rain 50000 Rem

471
Max 2500000
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stamina
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at both

CEDI NIRA
Power to impale
pain
penalty on
Investigate PM Auditor
whether Auditor On

Individual Auditory Min 100000 fine

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Min Gm Ban
Max 10Years
PF
flam Auditas Mim 500000 fine
of up
Max to times R R

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Sez 31 CRITICAL LIABILITY

A co issues Document prospectus
offer mm mm

Such Document prospectus contains

cuter statement
any
Material Mi's statant
any
fraudulent Info
any M's
any leading Info
Their
Juho authorised to issue
such Doument prospectus

fissued All
1
will be punished up
chartered
fraud
 parody penalty
Iffaand Tftheart
put Involved
Involved isqueata
Escapefrom Chiminal trials iseusman they.ee
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maqqanaudm
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to the phone that

Couetoftaw tell
that his Inffstatemitt endie
till the
hotel Data in that
offer Douuutfpuepesct.us Boeuf
propectus
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IMMATERIAL The
infopublished
mum
was believedto be
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Tf any person has Subucibedlpurchased

securities
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statement Tufo
f
a 2
omission
me of
due to which such person suffered
tasses
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Ef Expert was Involved in Issuing
Such in that case
Info if
found Guilty will be penalised
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of
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tiabilitylpunishmentm i Liable to penalty in

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any
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esgpefomgilgb Thetufols.tl

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Thepuospectus Ifbelieved
opinion was is already
published issued that
without I Infogasit
the Expert's wasisseed
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Come Away byananothe
permission that into Exped
He believed
publishedwas
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a before prospectus I Lateron the
was Necessary Expeetfound
published canectiveAction outtake
was taken
a fraud
untrue
 Given Puttanna persons

Penalties Liabilities an Auditor

under Income Tax Act
of1961

I
Sections section
begin Raleigh 2717
d d d
chartered chartered
Many Ifa Ffa pfach.at
Accountant Accountant
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is disqualified Assessed Repaint Aconite issues
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27 Authority to
from representing Evadegmountya
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whichame office
in the Income
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 penalty pupuptoyeatadw
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If Tax Evasion Empire
Lessthan
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254th Evasion822511

Max Years
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with fine
with fine
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after 1 4 1938
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for
fraud offence loyeaufong
such Conviction
theCourt
Additional
Magnet habitofanAudity
Casely certain weaknesses in ICS were Noticed
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summary an Auditor Relating to Payment ofwages
by
He brought it to MD's knowledge
in Subsequent Year Huge Defalcation
took place

AEI's Msft
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of
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a
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there is Twiggy Significant
To Communicate

all signif
Deficiencies

Change Perform Add procedures

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because there is bleak in ICS
d
if
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there Existsthe Potential Rotan
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Auditor took Additional carethen
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if can'tbe held liable
d
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it was Enough Defence

Affaire Judgement was passedaspee Kingston Colton

Itani
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proteotion Auditor Shall
Assets
of I probe in Depth
when
angels primary only
responsibility
suspicion Arises

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Default by

CA as an Auditor has
ICAIClarfications
following Roles PROTEIN UNDER
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To Express to unify 1264 EvidenceAct
on Doc records d
 Or Advocates
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he comes Across
protected 0151268
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any unlawful
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disclosing Comm
impactonfs any
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mustrepartitnhis him by his client
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But Auditor didn't mepaetit
if the FRAUD TAX
knowing fact that there s
of
unlawful Activity
d
Byatt
Guiltyof Misconduct
I

to
anime current

Should ask
year

Auditwas By Himself client to

He
done by other
Advice client to
make full
Disclosure
Auditarfae
disclose Tax
of
Such year Income e
I EvasientolaxAuth Avoid
Advice client to
Tax Evasion
If Mentmfuses d
upon Disassociated Elserepartit
Tax Auth
to Auth in A R
depart
Cheek
Implication that f 29 repents by Explanation
On Aurat Year arenetheliableaspee
Disassociate
obtained incy
Info
I
butAuditor shall not
Give detailsof matter
unless client permits
I
Otherwise it will
breach Confidentiality

1 70 Identified 2 SetsqBOAs maintained by

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stability

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of perfumed
his work with
CaredSkilled
Due caredskill helping client unable to detect
towarkasper n Peep of due
say IsetsqBoas
If theni's Suspicion BOII to deep fraud
Then
perform FAAP had no Suspicion
I
Then not responsible