Manpasand to Vakrangee, spate of auditor exits in top listed companies now under govt scanner
Auditors are required to report to the government in case they suspect any wrongdoing in the company, as per section 143(12) of the Companies Act. The ministry is inquiring about the details of the complaints from auditors. “The auditors are being questioned. We have asked them to give full reasons and tell us in detail (the reason for exit). What they have said so far is not enough,” he said.
The Minister of State for Corporate Affairs P P Chaudhary has called a meeting today to review the recent spate of exits by auditors of prominent listed companies. Image source: manpasand.co.in