Shrikrishna: Hello, Arjun, all set to usher in New Year?
Arjun: Yes, Lord. Planning so many ambitious things!
Shrikrishna: Very good. For example?
Arjun: I am taking a pledge. I won’t start any work unless and until I am properly appointed.
Shrikrishna: Why? What makes you think that way? Of course, it is a good thing.
Arjun: Our friends are suffering unnecessarily for this reason.
Shrikrishna: What happened?
Arjun:
Bhagwan, you know everything. Still, you are asking me?
Shrikrishna: True, I know what you are referring to. But tell it again so that other
Pandavas also know.
Arjun: Fine. There was a large listed NBFC engaged in housing finance.
Shrikrishna: OK. What of that?
Arjun: Now it is facing many enquiries due to a big fraud of a few thousand crores!
Shrikrishna: Mostly, such frauds are sponsored by the management itself. One has to be very careful.
Arjun: True. For over 15 years, the company has been appointing only statutory auditors.
Shrikrishna: OK. Then?
Arjun: Then the company started appointing 25 to 30 SME firms to conduct branch audit of over 200 branches. This was in consultation with the statutory auditors.
Shrikrishna: So, the branch auditors were not appointed by the company directly in its annual general meeting. Right?
Arjun: Yes. The appointment letter of branche
