Indian financial watchdog launches consultation on the correct procedure for auditor resignations after a series of high-profile exits.
Those wrestling with the thorny issue of a rising number of auditor resignations in the UK might do well to observe events in India. There the country’s chief financial watchdog, the Securities and Exchange Board of India (SEBI), has launched a consultation to figure out new rules governing how auditors make their exit from clients. And this because auditors there have cited what may appear to many as relatively weak reasons for parting company with their paymasters.
Chief among them is “pre-occupation” (too busy with other work), “health reasons” and “personal reasons” for quitting mid-term. That has left some companies s
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