Deloitte raises questions on wrongly approved vendors in BharatPe
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In the latest annual report of BharatPe, the opinion of its statutory auditor Deloitte has been given. It said that the company’s internal control system for vendor selection was not working effectively. This resulted in procurement at wrongly approved prices.
New Delhi. Accounting firm Deloitte had raised questions on wrongly approved vendors and overpayments in BharatPe. It is worth mentioning that Ashneer Grover, former managing director and co-founder of BharatPe, is accused of cheating and embezzlement of funds. In the latest annual report of BharatPe, the opinion of its statutory auditor Deloitte has been given. It said that the company’s internal control system for vendor selection was not working effectively. This resulted in procurement at wrongly approved prices. The auditors’ opinion is given in a page of BharatPe’s Annual Report. It added that the auditors did not report any incidence of fraud to the board of directors.
Burrows and said that no journalist has read the annual report of BharatPe, which clearly does not mention any fraud. However, when pointed to the back page of the annual report, he questioned the role of the auditor. He did not respond to Deloitte’s concerns raised in the report. BharatPe has alleged in police and court complaints that Grover, his wife Madhuri Jain and other family members generated fake bills. They enlisted bogus vendors to provide services to the company and overcharged the firm. The company has demanded Rs 88.67 crore to compensate for the loss due to this.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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