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PwC prepares report on IndusInd Bank's Rs 2,100 crore accounting discrepancy, affecting 2.35% of bank's net worth.
PwC, IndusInd Bank's external auditor, is set to submit a report by Friday on accounting discrepancies in the bank's derivatives portfolio, estimated at Rs 2,100 crore. This could impact 2.35% of the bank's net worth. The report will detail the actual loss and recommend remedial actions. IndusInd Bank has also hired Grant Thornton for a forensic audit, and Moody's is reviewing the bank's credit assessment for a potential downgrade.
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