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 a "significant impact" on its ability to "plan, design perform and complete" the audit as per standards.
BYJU'S in a statement said it has appointed BDO as its new auditor, adding this would help it "uphold the highest standards of financial scrutiny and accountability.
Official copy of the letter has been presented below
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