ICAI could overview fin statements of IndusInd

NEW DELHI: Chartered accountants’ apex physique ICAI could overview the monetary statements of IndusInd Financial institution, which is grappling with discrepancies in accounting estimated to be Rs 2,100 crore.
The personal sector lender, on March 10, disclosed some discrepancies in its derivatives portfolio, which may have an opposed affect of about 2.35% of the financial institution’s web value as of Dec 2024, as per its inner overview.
Analysts peg the discrepancy at Rs 2,100 crore in absolute phrases. In opposition to this backdrop, the Monetary Reporting Assessment Board (FRRB) of the Institute of Chartered Accountants of India (ICAI) is more likely to overview the monetary statements of the financial institution. “As a proactive measure, ICAI-FRRB could undertake a overview of the monetary statements of IndusInd Financial institution,” ICAI president Charanjot Singh Nanda mentioned. FRRB conducts the overview of monetary statements of firms to evaluate compliance with Accounting Requirements, Requirements on Auditing, amongst others.