NFRA flags serious lapses in statutory audit of Jaiprakash Associates
30th Aug 2021

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.