Ind AS is bringing biggest accounting revolution in India

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Ind AS requires valuation as per Ind AS 113

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Ind AS is required to be Implemented by an expert

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Ind AS is a futuristic accounting standard

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What To Make Of The Auditor Resignations ?

It is uncommon for auditors in India to resign halfway through an audit. Even more uncommon for them to quit just before the finalisation of annual accounts. But it’s happened thrice now in two months.

  • On Apr. 27, Price Waterhouse & Co resigned as auditor of Vakrangee Ltd.
  • On May 26, Deloitte Haskins & Sells resigned as auditor of Manpasand Beverages Ltd.
  • On May 30, Price Waterhouse Chartered Accountants LLP as auditor of Atlanta Ltd

In all these cases the auditors resigned just days before signing off on annual accounts.
In all these cases the reason for resignation was inadequate information.
In all these cases the companies’ statements sidestep the auditors’ concerns.