ICAI to Review IndusInd Bank’s Financials Amid ₹2,100 Crore Accounting Discrepancy

The Institute of Chartered Accountants of India (ICAI) could scrutinise the financial accounts of IndusInd Bank after it disclosed a ₹2,100 crore accounting shortfall in its derivatives book. The difference, representing 2.35% of the bank's net worth as of December 2024, was unveiled on March 10, 20...

The Institute of Chartered Accountants of India (ICAI) could scrutinise the financial accounts of IndusInd Bank after it disclosed a ₹2,100 crore accounting shortfall in its derivatives book. The difference, representing 2.35% of the bank's net worth as of December 2024, was unveiled on March 10, 2025. The Financial Reporting Review Board (FRRB) of ICAI will assess compliance with accounting standards and auditing guidelines. IndusInd Bank has already appointed an external agency to validate its internal findings, with a final report expected by early April. The revelation sent shares of the bank down 27% on March 11, although they have rebounded somewhat since then. CEO Sumant Kathpalia assured investors that the bank's reserves were sufficient to absorb the shock. This proactive review reflects ICAI’s commitment to ensuring transparency and accountability in financial reporting. Source: NDTV, Economic Times