Deloitte resigns as adani ports auditor

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Deloitte, Haskins & Sells LLP has resigned as the statutory auditors of Adani Ports and Special Economic Zone (APSEZ).

The audit firm had red flagged at least three transactions in the past two quarters after it wasn’t convinced by the management’s claims that these had not been struck with related parties.

Deloitte had argued that no independent external agency had been appointed to validate the Adani group’s claims.

The audit committee of the company’s board of directors has appointed M SK A & Asso-ciates, an independent member firm of BDO International, as its new auditor.

 Adani Ports said in a regulatory filing that Deloitte had been its statutory auditor since May 2017.

In July 2022, the company reappointed Deloitte as its statutory auditor for another term of five years.

APSEZ said Deloitte had resigned because it was not given a “wider audit role” covering other listed Adani portfolio companies.

It claimed that Deloitte had indicated its position at a recent meeting with the APSEZ management and its audit committee, which comprises four independent directors.

“There are no other reasons other than (that) mentioned in the resignation letter received from the statutory auditors dated August 12.”

The resignation letter from Deloitte, which was appended to the regulatory filing, said: “We are tendering our resignation … with immediate effect because we are not statutory auditors of a substantial number of other Adani group com-panies…..including an Adani group company (and its sub-sidiaries) after our completion of our term of five years.”

It wasn’t clear which Adani group company Deloitte was referring to.

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