BDO’s exit comes just more than a year after Deloitte, the company’s previous auditor, stepped down citing problems with BYJU’S financial reporting
In its resignation letter, BDO highlighted several troubling issues, including delays in financial reporting, lack of support from the management and concerns over recovering outstanding dues from a Dubai-based entity
BDO also pointed to other challenges facing BYJU’S, such as ongoing litigation, liquidation proceedings initiated by creditors, and allegations of mismanagement by minority shareholders
In another setback to BYJU’S, the embattled edtech major’s second auditor BDO (MSKA & Associates) has resigned amid concerns over “financial” and “governance” issues.
BDO’s exit comes just more than a year after Deloitte, the company’s previous auditor, stepped down citing problems with BYJU’S financial reporting.