It is not uncommon for Auditors of Companies to resign in between an audit. It is not uncommon too for them to resign just days or weeks before the finalisation of the annual accounts.
But when these incidents suddenly start happening in frequent regularity, it is certainly uncommon.
The resignation of the top auditors from some listed companies just days before signing off on the annual accounts has been in top news since some time. It is not just Manpasand Beverages or Vakrangee or Atlanta which are hogging the headlines, some reliable database has shared that since the beginning of this calendar year, more than 30 audit firms have resigned as auditors of companies, midterm.
These news-makers haven’t been reflecting good signs on the share prices of these Companies which have been plummeting down, losing money for the investors and shareholders.Read More →