NEW DELHI: With the auditors withdrawing reports on crisis-hit NSEL's promoter Financial Technologies, auditing regulator ICAI has decided to look into the matter and will write to the Forward Markets Commission (FMC) and corporate affairs ministry to seek details.
"We will gather information from the regulators and the government concerning Financial Technologies India (FTIL) and NSEL," ICAI president Subodh Kumar Agrawal said. However, he added that there were provisions in the auditing standards that allowed an auditor to withdraw a report.
FTIL auditor Deloitte Haskins & Sells on Tuesday withdrew its report on the company, saying the financial statements for 2012-13 cannot be "relied upon" in the wake of the NSEL payment crisis. The withdrawal came after NSEL's auditor Mukesh P Shah & Co also withdrew the report.
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