Losing international auditors would be a heavy blow for Indian businesses
and another subsidiary. It had already been suspended for a year from doing bank audits because of its work for Yes Bank, India’s fourth-biggest private lender., meanwhile, faces a two-year suspension relating to work for Satyam, a computer-services firm that went bust a decade ago.These legal travails could bring to an end an odd exception to India’s localism. In most areas, lobby groups and nationalism have relegated global legal and financial players to bit parts.
Responsibility for overseeing such an opaque structure goes beyond employees and external advisers. Two of, a huge life insurer, and Central Bank of India, a commercial bank. Both are state-owned. Some suspect that the auditors have come under fire because they make the easiest target.section of the print edition under the headline
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