IndusInd Bank denies media reports on appointing EY: ‘No audit by EY, internal dept to review MFI biz’ | Mint

IndusInd Bank on Tuesday, April 22, refuted media reports that stated that the private sector lender has roped in EY to conduct another audit, to probe Rs. 600 crorr discrepancy in microfinance portfolio. In a regulatory filing, IndusInd Bank said, “We would like to clarify that the Bank has not engaged EY for a forensic audit as reported in the news item.”

The private sector lender added that the bank has engaged with EY to assist its internal audit dept in reviewing certain records. The exchange filing stated, “As a part of the process of finalization of accounts, the Bank’s Internal Audit Department (IAD) is conducting a review of the Bank’s MFI business to examine certain concerns which have been brought to the Bank’s attention. In connection with this exercise, Bank is engaged with EY to assist the IAD in reviewing certain records of the Bank. The review by the Bank is ongoing.”