Big setback to Haribhakti & Co LLP! RBI bars chartered accounting firm from taking audit exercises in its regulated entities for 2 years
In a major setback to Haribhakti & Co LLP, the Reserve Bank of India (RBI) has barred the chartered accounting firm from undertaking audit exercises for the period of two years with effect from April 1, 2022.
The action from the central bank comes in the view of failure on the part of the audit firm to comply with a specific direction issued by the Reserve Bank.