⭐ Important points (exam-critical)
- ⭐Material weakness in IFC mandates qualification of opinion on IFC (separate from FS opinion).
- ⭐Sec 143(12) fraud reporting threshold: ≥ ₹1 cr to CG, < ₹1 cr to audit committee.
- ⭐BRSR Core (top 1000 listed) — assurance by FY 2023-24 onwards.
- ⭐Money laundering — auditor's responsibility under PMLA reporting (suspicious transactions).
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