ICAI To Review Yes Bank’s Financial Statements For FY18 And FY19
Yes Bank is expected to release its December quarter results on March 14.
Institute of Chartered Accountants of India on Wednesday said it will review financial statements of crisis-hit Yes Bank Ltd.
ICAI’s Financial Reporting Review Board would take up the review of general purpose financial statements of Yes Bank for 2017-18 and 2018-19.
"In case the FRRB finds any material/serious non-compliance, it would refer the case to the Director (Discipline) of ICAI for initiating action against the Auditor...," the institute said in a statement.
The Reserve Bank of India had last week put Yes Bank under a moratorium for one month and capped withdrawals for customers at Rs 50,000 during this period.
India’s largest lender State Bank of India has stepped in with a Rs 2,450-crore rescue plan for the private lender, and an RBI-appointed administrator believes the curbs will be lifted as early as Saturday.
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The private bank is expected to release its December quarter results on March 14.