The Institute of Chartered Accountants of India (ICAI) is set to review the financial statements of IndusInd Bank following the revelation of a Rs 2,100 crore discrepancy in its derivatives portfolio. This development has the potential to affect 2.35% of the bank’s net worth by December 2024, according to the bank’s own internal assessment. The ICAI’s Financial Reporting Review Board will be looking into the matter to ensure adherence to accounting and auditing standards. This scrutiny comes in light of the significant financial anomaly uncovered within IndusInd Bank’s operations.
IndusInd Bank’s Rs 2,100 crore derivatives discrepancy prompts ICAI review, potentially affecting 2.35% of net worth.
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