October 19, 2020

PwC: Nationwide Monetary Reporting Authority (NFRA) to probe PwC, quitting auditors

MUMBAI The Nationwide Monetary Reporting Authority (NFRA) is investigating abrupt resignations of statutory auditors in the previous couple of months, together with PwC India that not too long ago stop from GVK Energy.

The regulatory physique of auditors has stepped up motion in opposition to erring auditors after India Inc was hit by a spate of frauds.

Individuals within the know say NFRA is about to query PwC on whether or not the auditor had raised any purple flags earlier within the reported outcomes.

When contacted, a spokesperson for Worth Waterhouse, a part of PwC India, stated, “We’re unable to remark since we’re sure by our confidentiality obligations.” NFRA didn’t reply to an ET question.

Individuals near the event stated NFRA would situation a discover to PwC within the coming days in search of clarification concerning its audit of GVK.