Former Deloitte Haskins and Sells LLP Chief Udayan Sen have been forbidden from pursuing his auditing work by National Financial Reporting Authority (NFRA) for seven years. A monetary penalty of Rs. 25 lakh has also been imposed for auditing lapses at Infrastructure Leasing and Financial Services Ltd. (IL&FS)
While pronouncing its order, NFRA found the former Deloitte chief guilty on several counts of professional misconduct which is briefly highlighted alongwith examples at suitable places as follows:
It has also been observed by NFRA that since he was the managing Partner and CEO of Deloitte for several years, he should have been aware of and be alert to anything that could have effect his and his firm’s independence.
Your password has been successfully updated! Please login with your new password
The link is unavailable for your login. Please empanel with the ID Databank to access this feature. For more information, email firstname.lastname@example.org or call 1-800-102-3145.