Vaxfab Enterprises Appoints Forensic Auditor for 3 Years
Vaxfab Enterprises Limited announced the appointment of M/s. ASGM & Co., Chartered Accountants, as an independent forensic auditor. The audit will cover financial years 2022-23, 2023-24, and 2024-25. This decision follows the transition of management on April 1, 2025, and the subsequent unavailability of comprehensive historical financial records and supporting documents. The forensic audit is also prompted by notices and queries from GST authorities concerning historical transactions. The scope includes examining accounting records, financial transactions, GST claims, income-tax matters, related-party transactions, and identifying questionable transactions. The professional fees approved for this engagement are ₹3,00,000 plus applicable taxes and expenses.
Key Highlights
- Forensic auditor appointed for FY23, FY24, and FY25.
- Audit initiated due to missing historical financial records.
- GST authorities' notices also a factor for the audit.
- Scope includes detailed examination of financial transactions.
- Professional fees set at ₹3,00,000 plus taxes.
Price Impact
More from VEL