Reasons cited by Deloitte for quitting were not convincing, says Adani Ports
Millennium Post Delhi|New Delhi 14August2023
Deloitte had sought independent external probe into Hindenburg allegations
Reasons cited by Deloitte for quitting were not convincing, says Adani Ports

NEW DELHI: Before resigning as an auditor of an Adani Group firm, Deloitte had sought an independent external examination of allegations made by a US short-seller but the company said the allegations had no effect on financial statements and the reasons cited for quitting were not convincing to warrant such a move.

In a 163-page filing with stock exchanges relating to Deloitte Haskins & Sells LLP’s resignation, Adani Ports and Special Economic Zone (APSEZ) said that in meetings with its leadership, Deloitte indicated concern over a lack of a wider audit role as auditors of other listed Adani companies.

However, the firm conveyed to the auditor that it was not within its remit to recommend such appointments as other entities are “completely independent”.

“The Audit Committee (of APSEZ) was of the view that the grounds advanced by Deloitte for resignation as Statutory Auditor were not convincing or sufficient to warrant such a move,” said Gopal Krishna Pillai, former union home secretary and chairman of the Audit Committee of APSEZ, in a statement.

“Deloitte was not willing to continue as ... auditor and, therefore, it was agreed to amicably end the client-auditor contractual relationship,” he said.

This story is from the New Delhi 14August2023 edition of Millennium Post Delhi.

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This story is from the New Delhi 14August2023 edition of Millennium Post Delhi.

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