Deloitte flags lapses in Dailyhunt parent's controls

Deloitte has flagged lack of internal controls over the selection and evaluation of suppliers, among other things

- Priyamvada C.

Audit firm Deloitte has flagged lapses in Dailyhunt parent VerSe Innovation Pvt. Ltd.'s operations, saying the company did not have appropriate internal controls over the evaluation and selection of suppliers, approval of purchase orders and invoices, and payments. This could result in "material misstatement in company's trade payables and expense account balances and preferential payments to suppliers including misappropriation of assets," Deloitte said as part of VerSe's consolidated financial statements for 2023-24, which was filed with the ministry of corporate affairs on Monday.