Deloitte Haskins did not meet standards in IL&FS unit audit, rules watchdog NFRA
Updated : December 13, 2019 08:49 AM IST
IFIN is an offshoot of Infrastructure Leasing & Financial Services (IL&FS), a major Indian infrastructure financing and construction firm that defaulted on some debts last year.
An audit quality review disclosed that Deloitte Haskins failed to comply with required standards on auditing (SAs), the National Financial Reporting Authority (NFRA) said in a statement.
"The instances of failure noticed are of such significance that it appears to NFRA that DHS did not have adequate justification for issuing the audit report asserting that the audit was conducted in accordance with the SAs," NFRA said.
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