Major lapses in Deloitte audit of IL&FS Financial Services, says SFIO

The preliminary probe by the Serious Fraud Investigation Office (SFIO) has found that audit firm Deloitte was responsible for falsification of financials of IFIN, a subsidiary of Infrastructure Leasing & Financial Services (IL&FS), according to an official in the know. The serious fraud office, which is reaching a closure in the case, would submit its probe report next month, it is learnt. The SFIO has come across many irregularities in the books of IL&FS, specifically relating to the IL&FS Financial Services (IFIN) account. “They were partners along with the IFIN old board and it .....

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