🧵 1. Deloitte resigned as auditors of Adani Ports due to disagreement over wider audit scope for other Adani firms. #business
🧵 1. Deloitte resigned as auditors of Adani Ports due to disagreement over wider audit scope for other Adani firms. #business
🧵 2. Deloitte wanted to examine inter-group transactions, but APSEZ believed it was beyond their board's remit.
🧵 3. Deloitte flagged substantial EPC purchase contracts and recoverable amounts from a party mentioned in Hindenburg report.
🧵 4. Adani Group dismissed need for external examination of allegations, but Deloitte insisted on proper audit evidence.
🧵 5. Differences in audit scope, concerns over financial transactions, and external examination led to Deloitte's resignation.
🧵 Read more at: https://www.financialexpress.com/industry/explainer-why-deloitte-amp-adani-ports-parted-ways/3212957/