Driven by excellence, focused on strategies for the longer term.

This is the crux of who we are. It is an articulation of precision in purpose, from the Firm’s beginnings to where we are today. Our collective eye is unerringly trained on tomorrow.

Deep sectoral expertise across services and industries.

Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

Personal commitment supported by experience and grit.

We commit early. We pull together internally for greater support. Every effort is sincere, every individual deeply dedicated to their task, their role, to the Firm.

Our undertakings for long-term impact are an organic extension of our purpose.

They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

Knowledge-sharing is intrinsic to equity and inclusivity.

This is a repository of thought leadership, deep insights and strong viewpoints, legal and other news and events and how they impact the industry and our clients.

Relevance is critical to growth. It necessitates a firm that is dynamic and responsive.

Amplifying intrinsic talent, sharpening skills, expanding knowledge, is vital to leading. It defines every aspect of how our firm functions and transacts. This is how we create new benchmarks and set industry standards.

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Sep 30, 2019

Proposed Norms for Resignation of Statutory Auditors

SEBI, on July 18, 2019, has issued a consultation paper on Policy Proposals with respect to Resignation of Statutory Auditors from Listed Entities. The paper proposes conditions to enhance responsible behaviour of auditors and ensure completion of ongoing obligations by resigning auditors. Following are the key proposals:

i.       For listed entities, auditor will be required to sign the audit report of a financial year before resignation, in case the auditor has signed the audit report for all quarters except the last quarter in that financial year. In all other cases, the auditor to provide a limited review or audit report for the quarter in which the auditor resigns; and

ii.      For material unlisted subsidiaries of listed entities, auditor to issue limited review or audit report for the previous quarter/ financial year, as applicable, before resignation.

In addition, the consultation paper inter alia proposes certain procedures for strengthening the role of the audit committee and also prescribes a format for the resignation letter by a statutory auditor.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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