Edtech giant Byju's trouble deepens, Deloitte resigns as statutory auditors
Deloitte was appointed as the auditors for a period of 5-years starting from April 1, 2020 to FY Mach 31, 2025
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Deloitte was appointed as the auditors for a period of 5-years starting from April 1, 2020 to FY Mach 31, 2025
Byju's expressed its 'sincere gratitude' to the outgoing auditors, Deloitte Haskins & Sells, 'for their invaluable professional support over the last six years'
Deloitte cites delay in submission of financial statements as reason for the move
Audit firm Deloitte has resigned as auditors of Byju's citing a delay in submission of financial statements while almost simultaneously three of the edtech firm's board members have quit in what is being seen as a deepening crisis at the decacorn. Deloitte Haskins & Sells, which was slated to audit Byju's until 2025, stepped down with 'immediate effect' mid-term stating that 'the financial statements of the company are long delayed. In a letter sent to the board of Think & Learn Pvt Ltd (known as Byju's), Deloitte said it has not been able to start an audit due to the delays and that will have...
Deloitte's decision to step down as BYJU'S' statutory auditor comes amid reports of three key members resigning from the company's board.