Mumbai : Price Waterhouse Chartered Accountants has resigned as statutory auditor of diversified firm Atlanta for the year ended March 31, 2018, Atlanta said in an exchange filing.
The company said Price Waterhouse has ceased to be the statutory auditor with immediate effect, it said.
This move comes in the wake of Atlanta withholding “significant information”, including significant observations made by the tax authorities, from the audit firm. Also, Atlanta had not informed Price Waterhouse Chartered Accountants in a timely manner about the resignation of one of the independent directors who was also part of the Audit Committee. For both these reasons of withholding significant information, the statutory auditor has withdrawn from the audit engagement. A formal letter has been sent by the statutory auditor to the board of Atlanta.