Probe alleges 22 audit violations by Deloitte, KPMG arm in IL&FS unit


India detected at least 22 violations of auditing standards by Deloitte Haskins & Sells and a KPMG affiliate while investigating a fraud at a financial company, leading it to seek a five-year ban on the auditors, according to government legal filings seen by Reuters.

The failures were detected as part of a wide-ranging probe into alleged fraud and mismanagement at Infrastructure Leasing & Financial Services (IL&FS), which defaulted on its debt obligations last year and sparked fears of financial contagion. Both auditors.....

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