Wednesday, July 6

Tag: deloitte

Government likely to ban Deloitte for Alleged Malpractice in IL&FS Accounts
Corporate, News

Government likely to ban Deloitte for Alleged Malpractice in IL&FS Accounts

Highlights Deloitte Haskins and Sells has been under the radar over its role in the IL&FS audit process, and are likely to be banned for 5 yearsThe Ministry of Corporate Affairs may consider to invoke section 140 (5) of the Companies Act to debar the companyDeloitte asserted that the group’s defaults started in May 2018.Deloitte audited IL&FS, ITNL along with SRBC&Co (E&Y) and IFIN by its own, in 2016-17 Deloitte Haskins and Sells has been under the radar over its questionable approach towards the role in the IL&FS audit process, and are likely to be banned for 5 years by the government. Apparently, the Ministry of Corporate Affairs may consider to invoke section 140 (5) of the Companies Act to debar the company for alleged malpractice in IL&FS accounts. ...