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NFRA flags serious lapses in statutory audit of Jaiprakash Associates

30 Aug 2021 Evaluate

Audit regulator NFRA has flagged serious lapses in the statutory audit of Jaiprakash Associates (JAL) for 2017-18, including that transactions violative of accounting and auditing standards would have resulted in more than Rs 3,200 crore loss instead of a profit before tax in the particular financial year.

The infrastructure company's statutory audit for 2017-18 was conducted by Rajendra K Goel & Co.

Jaiprakash Associates (JAL) is an India-based diversified infrastructure conglomerate. JAL’s business includes seven sectors: engineering and construction, power, cement, real estate, hospitality, expressways, and sports and education.

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