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flag NFRA in India flags potential breaches of auditor independence at SRBC & Co LLP, an EY affiliate.

flag The National Financial Reporting Authority (NFRA) in India has flagged potential breaches of auditor independence at SRBC & Co LLP, an affiliate of Ernst & Young (EY). flag The inspection revealed deficiencies in audit procedures, particularly concerning related party transactions and non-audit services provided by EY entities. flag SRBC has committed to addressing these issues, but if not resolved, the firm could face penalties and loss of trust, impacting investor confidence.

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