{"id":278498,"date":"2019-06-14T04:52:50","date_gmt":"2019-06-14T04:52:50","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=278498"},"modified":"2019-06-14T05:05:20","modified_gmt":"2019-06-14T05:05:20","slug":"probe-alleges-22-audit-violations-by-deloitte-kpmg-arm-in-ilfs-unit","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/probe-alleges-22-audit-violations-by-deloitte-kpmg-arm-in-ilfs-unit\/","title":{"rendered":"Probe alleges 22 audit violations by Deloitte, KPMG arm in IL&amp;FS unit"},"content":{"rendered":"<p>India detected at least 22 violations of auditing standards by Deloitte Haskins &amp; Sells and a KPMG affiliate while investigating a fraud at a financial company, leading it to seek a five-year ban on the auditors, according to government legal filings seen by Reuters.<\/p>\n<p>The failures were detected as part of a wide-ranging probe into alleged fraud and mismanagement at Infrastructure Leasing &amp; Financial Services (IL&amp;FS), which defaulted on its debt obligations last year and sparked fears of financial contagion.<\/p>\n<p>Both auditors have denied wrongdoing. <\/p>\n<p>After the government took over IL&amp;FS, government investigators began looking into one of its key financial units, IFIN, which was audited by Deloitte between 2008\/09 and 2017\/18, and by a KPMG affiliate, BSR &amp; Associates, from 2017\/18.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India detected at least 22 violations of auditing standards by Deloitte Haskins &amp; Sells and a KPMG affiliate while investigating a fraud at a financial company, leading it to seek a five-year ban on the auditors, according to government legal filings seen by Reuters. The failures were detected as part of a wide-ranging probe into alleged fraud and mismanagement at Infrastructure Leasing &amp; Financial Services (IL&amp;FS), which defaulted on its debt obligations last year and sparked fears of financial contagion. Both auditors have denied wrongdoing. After the government took over IL&amp;FS, government investigators began looking into one of its key [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,168],"tags":[],"class_list":["post-278498","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/278498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=278498"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/278498\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=278498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=278498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=278498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}