Adani Enterprises' signing auditor of 2018 had qualified CA in 2017.

The Morning Context's story has revealed many other startling facts. Read on:

1️⃣ Current auditor who started signing Adani Enterprises (AEL)'s financials qualified CA in 2017.

Auditors of high corporate governance standards companies having similar market cap have the following experience:

👉🏻 ITC - 33 years
👉🏻 HDFC - 29 years
👉🏻 Bajaj Finance - 28 years

2️⃣ Dharmesh Parikh & Co used to sign financials of AEL until 2017

They had to retire for FY18 due to rotation.

The new auditors Shah Dhandharia & Co. were appointed.

They have 3 partners who did their articleship at Dharmesh Parikh & Co. (previous auditors)

This shows that the rotation policy might not have been followed in essence

3️⃣ The name partner at Shah Dhandharia & Co. used to work at Dharmesh Parikh & Co.

Based on the revelations of an employee's LinkedIn profile.

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What is your take on this issue?

Personal Opinion: There is no law that is being broken here.

But AEL's spokespersons must clarify around the appointment of the auditors (who seem to be working too closely) to its shareholders.

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All the best. God bless you

❤️ Neeraj Arora

और हाँ, सीखते रहें, क्यूँकि सीखना शुरू तो जीतना शुरू 🚀

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