ICAI to review Yes Bank’s financial statements of last two years

The Financial Reporting Review Board (FRRB) of the Institute of Chartered Accountants of India (ICAI) would take up the review of general purpose financial statements of Yes Bank for 2017-18 and 2018-19.

Chartered accountants’ apex body ICAI will review financial statements of crisis-hit Yes Bank.

Yes Bank was placed under moratorium by the Reserve Bank of India last week. (Bloomberg photo)

The Financial Reporting Review Board (FRRB) of the Institute of Chartered Accountants of India (ICAI) would take up the review of general purpose financial statements of Yes Bank for 2017-18 and 2018-19.

“In case the FRRB finds any material/ serious non-compliance, it would refer the case to the Director (Discipline) of ICAI for initiating action against the Auditor...,” the institute said in a statement on Wednesday.

Yes Bank was placed under moratorium by the Reserve Bank of India last week.