Quick Summary
Audit firm Deloitte has resigned as auditors of BYJUS citing a delay in submission of financial statements while almost simultaneously three of the edtech firms board members have quit in what is being seen as a deepening crisis at the decacorn. Deloitte Haskins Sells, which was slated to audit BYJUS 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
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FAQ :
Deloitte resigned due to significant delays in the submission of Byju's financial statements, which prevented them from commencing and completing the audit as per professional standards.
Deloitte was slated to audit BYJU'S until 2025.
The delays have a significant impact on Deloitte's ability to plan, design, perform, and complete the audit according to professional standards.
BYJU'S has appointed BDO as its new auditor.
Yes, simultaneously with Deloitte's resignation, three of the edtech firm's board members have also quit.
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