Deloitte Financial News

14.08 / 19:37

Deloitte Adani Ports names new auditors after Deloitte resigns

Gautam Adani’s ports business appointed MSKA & Associates as its statutory auditors after Deloitte Haskins & Sells resigned, a move that may again put the spotlight on governance at the Indian conglomerate.

14.08 / 15:09

Enterprise Deloitte Deloitte resignation disintegrates $3.1 billion investor wealth in Adani stocks

₹25,419 crore in market capitalization in just one trading session. As of Monday, the Adani Group's total market capitalization stood at ₹10.44 trillion ($125.9 billion).

14.08 / 10:55

Lowe's NIFTY SENSEX Deloitte show Low end Sensex rebounds 580 pts from days low to end 79 points higher on gains in RIL, Infosys

India's wholesale inflation had contracted 4.12% in June, data showed on Monday. On a month-on-month basis, the index stood at 1.95%. The 30-share BSE benchmark Sensex recovered 580 pts from day's low and ended 79 points or 0.12% higher at 65,401.

14.08 / 06:47

Reuters Deloitte Sebi seeks 15-day extension to conclude, file status report in Adani-Hindenburg case

SEBI) on Monday sought a 15-day extension in Supreme Court to conclude the investigation and submit the status report in its probe into Hindenburg report against Adani group. On Monday, the shares of Adani group companies slid 3% to 5% after Deloitte resigned as auditor of Adani Ports, the first such move at the Gautam Adani-led conglomerate since U.S.

14.08 / 06:46

Provident Enterprise NIFTY Deloitte Drop fall Adani Group stocks fall as SEBI likely to submit report in Supreme Court today; Adani Ent shares drop the most over 5%

Adani Enterprises shares declining the most by over 5%, being the top loser on the Nifty index. Among other Adani Group stocks, Adani Power and Adani Transmission plunged more than 4% each, while Adani Ports & SEZ, Adani Green Energy, Adani Total Gas and Adani Wilmar shares were down over 3% each.

14.08 / 04:29

Deloitte share price Adani Ports share price falls over 3% after auditor Deloitte Haskins resigns prematurely

₹772.95 apiece on the BSE. The billionaire Gautam Adani-led Adani Group, said its port business arm Adani Ports and SEZ Ltd., has appointed M S K A & Associates (an independent member firm of BDO International), as its auditor. Deloitte Haskins was Adani Ports' auditor since FY2018 and was reappointed for another five-year term as the statutory auditor only last year.

14.08 / 04:13

Enterprise NIFTY SENSEX Deloitte inflation data Sensex tanks over 400 points ahead of inflation data; Nifty below 19,300

The BSE Sensex was trading 440 points or 0.67% lower at 64,882 while Nifty50 was trading at 19,280, down 147 points or 0.76% at around 9.21 am. From the Sensex stocks, Tata Motors, Bajaj Finserv, Bajaj Finance, SBI, JSW Steel, and Asian Paints opened with cuts, while only NTPC opened with gains.

14.08 / 02:27

COST UPS Reuters Enterprise Deloitte Stocks to Watch: HDFC Bank, ONGC, Adani Ports, Aurobindo Pharma, RVNL

HDFC Bank: After the successful $40 billion amalgamation with its parent, private lender HDFC Bank chief Sashidhar Jagdishan on Friday flagged funding as a risk, reported PTI. Jagdishan flagged his concern to the shareholders at its maiden annual general meeting after the merger came into effect on 1 July. He said, "As you know, the risks of the merger are the funding part of it." The HDFC has not been fully successful in getting all the forbearance it had sought from the RBI on the liabilities front.

13.08 / 20:01

UPS Provident Fallout PwC Deloitte Everest country Time ‘Perfect’ time to take on the big four consultants: NY firm

The new local country head of a major New York-headquartered professional services firm best known for restructuring bankrupt investment bank Lehman Brothers says the timing is “perfect” for it to bring its business to Australia and compete with its larger rivals.

13.08 / 19:27

Target Cooper Career Align Deloitte voice Auditors’ foremost obligation is to uphold public interest: Larry Bradley, KPMG

Auditors foremost obligation is to uphold the public interest, backed by audits granted through statutes, and the firm reserves the right to refuse work for companies that do not meet essential standards of personnel treatment, governance, controls, and cooperation, said Larry Bradley, Global Head of Audit for KPMG International, on Big Four firms refusing or walking away from risky audits. In a chat with ET, Bradley talks about the efficacy of joint audits, concentration risk in audits, and the best way to regulate the profession.

13.08 / 18:13

Provident FIVE Aware Assurant Deloitte performer exit Deloitte’s Adani Ports exit reveals a Hindenburg link

₹1.75 trillion Gautam Adani-led company’s resistance to conduct an independent external evaluation. As a “material weakness" identified as at 31 March, Deloitte said, “The company (Adani Ports) did not have an appropriate internal control system in respect of conducting an external examination of allegations made on the company." Deloitte said Adani Ports did not have adequate internal control system to even examine veracity of allegations ( made by Hindenburg) on related party relationships, which could potentially result in possible adjustments or disclosures of related party relationships, balances and transactions in the standalone financial statements.

13.08 / 03:03

Provident Deloitte cover social Adani Ports appoints BDO auditor after Deloitte quits

BDO International, will succeed Deloitte Haskins & Sells LLP as statutory auditor of Adani Ports & SEZ (APSEZ), according to a statement by the company. Deloitte quit the role on Saturday following differences with the company management over several transactions. Deloitte had been reappointed by the APSEZ audit committee in July 2022 for a five-year period.

12.08 / 17:33

UPS Reuters Deloitte NOT India's Adani Ports says Deloitte auditor resignation arguments not convincing

By Aditya Kalra and Munsif Vengattil

12.08 / 16:31

FIVE Deloitte Adani Ports appoints M S K A & Associates as its auditor after resignation of Deloitte

Adani Ports and Special Economic Zone’s (APSEZ) statutory auditor. In July 2022, APSEZ reappointed Deloitte as its statutory auditor for another term of five years. In Deloitte’s recent meeting with APSEZ management and its Audit Committee, which, by policy, is comprised of and chaired by independent directors only (Mr.

12.08 / 16:31

Reuters Deloitte voice NOT Adani Ports accepts Deloitte's resignation as auditor, says reasons to quit 'not convincing'

Adani Ports confirmed media reports about Deloitte's exit as auditor on Saturday while asserting that the reasons cited by the accounting giant were ‘not convincing’. Deloitte had reportedly voiced concern about certain transactions flagged by the Hindenburg report earlier this year that the company did not wish to scrutinise independently. The Adani Group company has said that MSKA and Associates Chartered Accountants will be taking over as APSEZ auditor.

12.08 / 16:31

Provident Deloitte Deloitte resigns as Adani Ports auditor

₹3,871 crore recoverable from a contractor that provided EPC services, which the company believed was not a related party. “However, the contractor was identified as a related party in a short seller (Hindenburg Research) report published in January 2023.

12.08 / 15:03

FIVE Deloitte Adani Group appoints MSKA & Associates as APSEZ’s auditor

Adani Group has appointed accounting firm MSKA & Associates as Adani Ports and Special Economic Zone’s (APSEZ) auditor, replacing Deloitte. MSKA and associates offer accounting services in India, and it is an independent member firm of BDO International, which is one of the top six global audit firms, Adani Group informed on Saturday. Deloitte Haskins & Sells LLP had communicated to Adani Ports & Special Economic Zone Ltd.

12.08 / 10:59

Twitter FIVE Deloitte NOT When auditors quit, you know things are not as projected: Congress on Adani issue

Congress on Saturday hoped the SEBI report on Adani would answer the questions raised by Supreme Court's Expert Committee and wondered when will Prime Minister Narendra Modi break his silence on the issue. In May, the apex court had granted the Securities and Exchange Board of India (SEBI) time till August 14 to complete its probe into the allegations of stock price manipulation by the Adani group.

12.08 / 08:15

Provident CEO Remark Deloitte ‘We admit that Rahul Yadav’s 4B Networks was a mistake': Info Edge CEO

Info Edge founder Sanjeev Bikhchandani said that his decision to invest in Rahul Gandhi's realty tech startup 4B Networks was a ‘mistake’, according to media reports. Speaking to analysts here, Bikhchandani said, “We all make mistakes sometimes.

11.08 / 19:41

Provident Aware Assurant Deloitte Deloitte to resign as Adani Ports auditor

MUMBAI : Deloitte Haskins & Sells has decided to resign as the statutory auditor of Adani Ports and Special Economic Zone Ltd, a person directly aware of the development said, raising concerns about the company’s accounting practices yet again. A formal announcement of Deloitte Haskins’ resignation is expected soon, the person said, declining to be named, citing the sensitivity of the matter.

11.08 / 14:05

Target Deloitte More trouble for Gautam Adani? Deloitte may resign as Adani Ports' auditor, says report

The crisis wrought by US short seller Hindenburg's explosive report against the Adani Group appears to be continuing till date. US-based accounting giant Deloitte is reportedly mulling an exit from Adani Ports in the coming days. The development mere weeks after the Indian unit of the firm raised concerns over transactions between Adani Ports and three entities ‘unrelated parties’ - also flagged in the short-seller's report.

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