Question

Business line: audit failure: punish the guilty, do not debar firms, suggests company law panel

Answer 1

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❏Batliboi & Co LLP (a network firm of EY in India) told BusinessLine: “The provisions for debarment of firms is harsh and may deter professionals from pursuing careers in the audit profession.

❏If audit failure is attributed to gross failure at the firm level, the firm ought to be held responsible.

Answer 2

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❏Batliboi & Co LLP (a network firm of EY in India) told BusinessLine: “The provisions for debarment of firms is harsh and may deter professionals from pursuing careers in the audit profession.

❏If audit failure is attributed to gross failure at the firm level, the firm ought to be held responsible.