The SFIO chargesheet pointed to evergreening in the accounts of IFIN and the auditors allegedly colluded and concealed the information. Deloitte was the auditor of IFIN for 10 years starting 2008. With these auditors likely staring at a bar of five years, 276 of NSE listed companies will need to look for new auditors. Among the two of them KPMG affiliates audit 150 NSE listed companies, Deloitte audits 126 NSE companies, as per data compiled by NSE infobase, which is a part of Prime Database, primary market tracker. The Big Four auditors have recently been on the receiving end of regulatory action due lapses in their audit practices.

Source: Mint June 10, 2019 13:51 UTC