Byju’s and Aakash Educational separate from Deloitte and appoint BDO as a new auditor

Deloitte is one of the largest professional services networks in the world, providing services in areas such as audit, consulting, tax, and financial advisory resignation from from Byju’s and Aakash Educational. Byju’s and Deloitte are separate entities operating in different industries. Byju’s focuses on the edtech sector, offering digital learning solutions, while Deloitte provides a range of professional services to clients across various industries.

The statement released by Deloitte” The financial statements of the Company for the year ended March 31, 2022 are long delayed. We have also not received any communication on the resolution of the audit report modifications in respect of the year ended March 31, 2021, and the status of audit readiness of the financial statements and the underlying books and records for the year ended March 31, 2022 and we have not been able to commence the audit as on date. As a result, there will be a significant impact on our ability to plan, design, perform and complete the audit in accordance with the applicable auditing standards. In view of the aforesaid, we are tendering our resignation as statutory auditors of the Company with immediate effect.”

After a legal battle on Thursday with Deloitte, Byju’s appoint BDO as its new auditor. BDO refers to BDO International Ltd., a global network of independent member firms providing professional services in the areas of audit, tax, advisory, and consulting. BDO stands for Binder Dijker Otte, which are the initials of the surnames of the three founders of the original firms that came together to create BDO.

BDO operates in over 160 countries and territories worldwide, making it one of the largest accounting and consulting networks globally. Each member firm of BDO is a separate legal entity and operates independently, but they collaborate and share resources and knowledge under the BDO brand. The services offered by BDO member firms include auditing financial statements, providing tax advice and compliance services, offering consulting and advisory services on business strategy, risk management, mergers and acquisitions, and other specialized areas. BDO serves a wide range of clients, including multinational corporations, private companies, government agencies, and nonprofit organizations.