We have been taught that an audit conducted with a view to give an opinion about the truthful and fairness of financial statements, it does not include the objective to find out frauds / errors. Though the principle has remained constant, the expectations thereof have gone a sea change.
Appellant Mandeep Singh filed RTI’s to the head offices of the Banks for seeking information, whether head office issued any directions that Project Reports, Projected Balance Sheets and CMA data should be certified by Chartered Accountants.
