ICAI starts with the assessment of Indusind Bank, Gensol Accounts, says that audits round can take six months; Disciplinary measures that must follow if expired are found – Times of India

The Institute of Chartered Accountants of India (ICAI) started revising the financial statements of Indusind Bank and Gensol Engineering and expects the process to take at least six months before an action is taken against auditors for alleged expires.Icai President Charanjot Singh Nanda said the assessment is handled by the Financial Reporting Review Board (FRRB), which will investigate financial data from Indusind Bank for 2023-24 and 2024–25, and that of Gensol Engineering and extinguishing Mobility for 2023-24.“FRRB will need at least six months or more to come to a conclusion about what is happening. It is a long -term process,” said Nanda, as cited PTI.If the board is of the opinion that the books are not presented in a true and honest way, the case will be referred to the ICAI disciplinary committee.The move comes after Indusind Bank has announced an RS 1,979 Crore -booking decline in his Derivaten portfolio in March. The bank also reported RS 674 Crore wrongly booked as income from microfinance and RS 595 Crore in non -under -build baldi under ‘other assets’.Gensol Engineering is now under regulatory scanner after Sebi had banned his promoters Anmol Singh Jaggi and Puneet Singh Jaggi of the securities market for administrative violations. Extra -Mart -mobility, which is also promoted by Anmol Jaggi, is part of the same audit review cycle.SEparative announced Icai a Summit series entitled “by Ledger to Global Leadership” to emphasize the role of Indian Chartered Accountants in the Global Capability Centers (GCC) ecosystem. The first edition will be held in New Delhi on 27-28 June 2025, followed by regional events in Gift City, Mumbai and Hyderabad.ICAI said the initiative is supported by government agencies, including the Ministry of Foreign Affairs, Ministry of Electronics and IT, IFSCA, SEPC, Invest India, NSDC and IIM Sambalpur.“With more than 1,800 GCCs who are active in India and employ more than 1.9 million professionals, India is uniquely positioned to lead the next phase of GCC evolution,” Nanda said.ICAI has also set up a group under its directorate of international trade, services and WTO to promote India as a global hub for gCCs guided by finance and to extend the role of CAS in areas such as finance, compliance, tax, risks and analyzes.