The year 2018 has seen the highest number of mid-term auditor resignations in six years, according to data from PRIME Database. In 2018, the tally stood at 42, more than thrice the previous year.
Experts say the rise in resignations has been due to the Securities and Exchange Board of India’s (Sebi’s) decision to bar Price Waterhouse for two years as auditors in the Satyam scam. The sweeping nature of the order, which came in January 2018, said neither PwC nor the audit firms in its network (PwC India) were allowed to audit any listed company or intermediary (such ...
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