boAt auditors flag discrepancies and compliance gaps across FY23 to FY25

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Consumer electronics brand boAt has disclosed a series of financial reporting and compliance lapses in its updated draft red herring prospectus (DRHP). The statutory auditors of Imagine Marketing, the parent entity of boAt, issued several unfavourable remarks relating to mismatches in statements, fund utilisation, governance, and internal controls across FY23 to FY25.

According to the filing, quarterly returns and statements submitted to banks were not in agreement with the company’s books of accounts for FY23, FY24 and FY25. The auditors also noted…



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boAt auditors flag discrepancies and compliance gaps across FY23 to FY25


Consumer electronics brand boAt has disclosed a series of financial reporting and compliance lapses in its updated draft red herring prospectus (DRHP). The statutory auditors of Imagine Marketing, the parent entity of boAt, issued several unfavourable remarks relating to mismatches in statements, fund utilisation, governance, and internal controls across FY23 to FY25.

According to the filing, quarterly returns and statements submitted to banks were not in agreement with the company’s books of accounts for FY23, FY24 and FY25. The auditors also noted…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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