ICAI may review fin statements of IndusInd

NEW DELHI: Chartered accountants’ apex physique ICAI may review the monetary statements of IndusInd Bank, which is grappling with discrepancies in accounting estimated to be Rs 2,100 crore.
The personal sector lender, on March 10, disclosed some discrepancies in its derivatives portfolio, which may have an opposed impression of about 2.35% of the financial institution’s web value as of Dec 2024, as per its inner review.
Analysts peg the discrepancy at Rs 2,100 crore in absolute phrases. Against this backdrop, the Financial Reporting Review Board (FRRB) of the Institute of Chartered Accountants of India (ICAI) is prone to review the monetary statements of the financial institution. “As a proactive measure, ICAI-FRRB may undertake a review of the financial statements of IndusInd Bank,” ICAI president Charanjot Singh Nanda mentioned. FRRB conducts the review of monetary statements of firms to evaluate compliance with Accounting Standards, Standards on Auditing, amongst others.