Byju's Ropes In New Auditor After Deloitte Resigns
NDTV
The developments have come at a time when Byju's is dealing with a $1.2 billion loan payment issue.
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."
