Penalty under NFRA

Auditing

Ma'am what is the difference in circumstance between the penalty mentioned here under NFRA & earlier for individual auditor 1 lakh minimum to max 5 times the audit fee (not remuneration) covered in earlier video [Video Time Stamp: 04:35] Video Details ------------- Advanced Auditing & Professional Ethics (Without SA) Company Audit - Accounts of Company #10. Rule 13 - Punishment for non-compliance

Mala Ca

CA Final

★ 23K+

17-Nov-25 19:55

140

Answers (5)

Which earlier video can you refer?

Pradnya Bajaj

Faculty

19-Nov-25 13:33

5th video of company audit-Accounts of company @11:36 mins Ma'am.

Thread Starter

Mala Ca

CA Final

★ 23K+

21-Nov-25 16:02

NFRA is 4 times the fee. And when we discuss sec 147, it’s 5 times the amount of remuneration. If I haven’t got you question correctly, please revert back

Pradnya Bajaj

Faculty

22-Nov-25 10:10

Pradnya Bajaj Faculty

NFRA is 4 times the fee. And when we discuss sec 147, it’s 5 times the amount of remuneration. If I haven’t got you question correctly, please revert back

Mam, I actually also have the same doubt in video lecture 5 - NFRA, there u have mentioned about penalty in case of auditor (individual) proven guilty, max. penalty is 5times the audit fee received. Here in this video, u told that penalty for non-compliance is max rs. 50,000 for the individual auditor. Could you please differentiate these two?

Syamala Yakkala

CA Final

★ 1K+

13-Dec-25 10:06

For non compliance, sec 147 it is 50000. That is from 139 section onwards. Under NFRA, under sec 132, if NFRA finds the auditor guilty then the punishment will 5 times and 10 times as the case may be.

Pradnya Bajaj

Faculty

13-Dec-25 10:09