Price Waterhouse Chartered Accountants LLP has tendered its resignation as the statutory auditors of Edelweiss Financial Services Ltd., after completing audit of earnings for financial year 2017-18, citing lack of time.
“Though we wish to continue our professional relationship, due to our other time bound and some compelling assignments, it will not be possible for us to continue with the assignment,” PW had said in a letter to Edelweiss on May 22. The letter was submitted to the stock exchanges in a filing on May 23.
The resignation comes only after PW already completed the audit of Edelweiss’ financial statement for the year ended March 2018. Edelweiss released its audited earnings on May 3, while the auditor communicated its decision to step down on May 22.
Edelweiss has appointed S.R. Batliboi & Co. LLP to replace PW. That appointment is subject to shareholder's approval.