Auditors Exit

On August 1 this year, Bubber Jindal and Company tendered its resignation as statutory auditor of SpiceHealth

In a letter to administrator of Srei Equipment Finance, Haribhakti cited RBI guidelines for the appointment of statutory central auditors /statutory auditors of commercial banks

So far this year, nearly 12 firms have reported resignations by their auditors due to disagreement over fees

The auditors alleged that despite several communications to GVK, the group did not provide them with necessary information

On the other hand, officials at regulatory and enforcement agencies said the audit firms tend to put the blame on individuals after finding themselves in the dock for their alleged role in frauds

The markets regulator has proposed that auditors should be made to review -limited or complete report - for the quarter during which it resigns

Industry sources say institutional investors have already had separate meetings with the auditors to understand the issues