As per Newspapers reports on 10th February 2018 show there is divergence of NPA of SBI to the tune of Rs.23000 crores as on 31/3/2017 which has now been reclassified.
It is astonishing to find that there were no accountability to the Central Statutory Auditors of SBI who have failed miserably as the divergence is huge.
In as much as the divergence has been now accepted, the financial as on 31/3/2017 does not reflect the true and fair view of SBI affairs.
Company Law Board, SEBI, RBI and Institute of Chartered Accountants should fix up responsibility on these central statutory auditors and publish them in public domain.
This needs to be done immediately as the year end is fast approaching and other central statutory auditors should be put into notice to upkeep their professional integrity.
It is astonishing to find that there were no accountability to the Central Statutory Auditors of SBI who have failed miserably as the divergence is huge.
In as much as the divergence has been now accepted, the financial as on 31/3/2017 does not reflect the true and fair view of SBI affairs.
Company Law Board, SEBI, RBI and Institute of Chartered Accountants should fix up responsibility on these central statutory auditors and publish them in public domain.
This needs to be done immediately as the year end is fast approaching and other central statutory auditors should be put into notice to upkeep their professional integrity.
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