The Financial Reporting Review Board (FRRB) of the Institute of Chartered Accountants of India (ICAI) is finalizing its report on the standards and processes followed by the auditor of Byju s, a prominent edtech company. Ranjeet Kumar Agarwal, the new President of ICAI, stated that the report will be the basis for the institute s next steps regarding the matter. The crisis at Byju s emerged following the resignation of three directors and its auditor, Deloitte, due to delays in announcing financial results.
Common traits in FTX & Byju s - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
The Financial Reporting Review Board of ICAI, which was looking into the financial statements of Byju s, flagged certain issues, which the disciplinary panel would examine
In its order on Thursday, the regulator said it had levied a fine of Rs 1 lakh on Sachin Kansal. He is the proprietor of S Kansal & Associates and statutory auditor of Anshu Clothing for 2015-16.