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Adani Group | Deloitte sought independent external probe into Hindenburg allegations, Adani firm says reasons for resignation not convincing

However, the firm conveyed to the auditor that it was not within its remit to recommend such appointments as other entities are 'completely independent'

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Deloitte sought independent external probe into Hindenburg allegations; Adani firm says reasons for resignation not convincing

In the August 12 resignation letter, Deloitte said it was resigning as auditor of APSEZ with immediate effect "because we are not statutory auditors of a substantial number of other Adani Group of companies." It went on to state that it had given a qualified opinion in audit of financial statements for quarters ended March 2023 and June 2023.

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Why Deloitte resigned as Adani Ports auditor

Before resigning as an auditor of an Adani Group firm, Deloitte had sought an independent external examination of allegations made by a US short-seller but the company said the allegations had no effect on financial statements and the reasons cited for quitting were not convincing to warrant such a move. In a 163-page filing with stock exchanges relating to Deloitte Haskins & Sells LLP s resignation, Adani Ports and Special Economic Zone (APSEZ) said that in meetings with its leadership, Deloitte indicated concern over a lack of a wider audit role as auditors of other listed Adani companies. However, the firm conveyed to the auditor that it was not within its remit to recommend such appointments as other entities are completely independent .

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India s Adani Ports says Deloitte auditor resignation arguments not convincing By Reuters

India s Adani Ports says Deloitte auditor resignation arguments not convincing By Reuters
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Adani Group appoints MSKA & Associates as new auditor following Deloitte s resignation

Deloitte's unwillingness to continue as APSEZ's statutory auditor led to the mutual decision to terminate the client-auditor relationship between the two parties

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