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Trouble mounts for edtech co Byju's as auditor BDO resigns
The New Indian Express
|September 08, 2024
EDTECH company Byju's audit firm BDO has resigned as the company entered insolvency proceedings due to a legal dispute with the BCCI, and this led to the appointment of an Insolvency Resolution Professional (IRP).
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However, Byju's in a statement on Saturday said it has complied with every request made by BDO, except those that would require crossing ethical and legal boundaries.
"The real reason for BDO'S resignation is Byju's firm refusal to backdate its reports, while BDO went to the extent of recommending a firm that could facilitate such an illegal activity. Multiple call recordings exist, where BDO representatives explicitly suggest backdating these documents, which Byju's refused to do," the firm claimed.
Due to the appointment of the IRP, the company's board was suspended.
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