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IFIN AUDITORS
NFRA finds Deloitte's appointment as IFIN auditor for FY18 illegal and in violation of Companies ActWhile the industry felt that there was confusion regarding the definition of such services, the authority took a firm stand that these prov...- Appointment of Deloitte as auditor of IFIN was illegal: NFRAThe regulator said that the firm was not eligible as the firm had a “business relationship” with IFIN. As per the current regulations audit...
- Delhi High Court grants interim relief to IL&FS audit partners from NFRA orderThree partners of Deloitte India, Udayan Sen, Shrenik Beid and Rukshad Daruvala, had filed a writ petition in the high court challenging th...
- Appointment of BSR as an auditor of IFIN was illegal: NFRA report on IL&FSET had first written on July 17 about NFRA’s report on BSR and how the firm did not adhere to auditing standards. NFRA had then sought the ...
- IL&FS case: NFRA bans another auditor Rukshad Daruvala for 5 years; Rs 5 lakh fine imposedRukshad Daruvala is at least the second auditor in the matter to be barred by NFRA. However, NFRA's ruling would not come into force till J...
- NFRA bars ex-Deloitte CEO for 7 years, slaps Rs 25L fine for his role in IL&FS fraud“Udayan Sen is debarred for the period of seven years from being appointed as an auditor or internal auditor or undertaking any audit in re...
- MCA plans to move SC against IFIN auditorsThe Centre plans to contest in the apex court a Bombay High Court ruling that disallowed a government petition that had sought to take acti...
- IFIN case: Big win for Deloitte, BSR & CoThe Bombay High Court on Tuesday ruled the ministry of corporate affairs (MCA) cannot take action against auditors over their role in the a...
- Big win for Deloitte, BSR in IL&FS case where government was seeking to ban themThe Bombay High Court said that the Ministry of Corporate Affairs (MCA) can’t take action against the two.
- BSR drags govt to court after NCLT removed the firm as IFIN’s auditor after it resignedBSR on Thursday filed a writ petition challenging the NCLT order where it, was sacked from auditing IFIN.
- In relief for auditors, NCLT stays order of impleadmentThe Centre is looking to clamp down on Deloitte and BSR, a KPMG network firm, for alleged lapses on their part in auditing the accounts of ...
- NCLT lacks jurisdiction to ban us, say Deloitte, KPMGAuditors can’t be put in the same category as independent directors and senior management, they argued.
- BSR & Associates resigns as statutory auditor of IL&FS Investment ManagersThe announcement has come a day after BSR & Associates, a KPMG group associate, resigned as statutory auditor of IL&FS Financial Services (...
- Ahead of NCLT hearing, BSR quits as IFIN auditorGovt had sought a ban on BSR & Deloitte for alleged role in concealing bad loans at IL&FS.
- IFIN group lending: BSR says it had sought clarity from RBIBSR said the investigators had made false allegations against the auditors without understanding accounting principles and regulations.
- BSR & Associates resigns as auditor of IL&FS Financial ServicesSebi has been conducting an in-depth investigation into the role of several entities and individuals, including for suspected violation of ...
- IL&FS scam: Government moves NCLT to seek 5-year ban on Deloitte, KPMG affiliate BSRThe proposed ban, could prevent the two firms from auditing any listed or unlisted company for five years.
- Auditor’s dilemma: When is evergreening a fraud?Evergreening is a ploy to mask loan default by giving new loans to help delinquent borrowers repay old loans.
- IFIN case: Deloitte ignored RBI rules, finds SFIO probeDeloitte had disregarded the RBI's regulations and turned a blind eye to IFIN’s 'evergreening' of loans.
- SFIO questions audit partner of KPMG India unitBSR jointly audited the books of IL&FS Fin Services with Deloitte Haskins.
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