Huawei appears to be sinking deeper into trouble, as the company’s auditor has told the Income Tax (I-T) Department that the raw ERP data dump provided by the company to the department was ‘insufficient’ to audit its books.
According to the company’s statutory auditor, the raw data dump provided by Huawei Telecommunications (India) had to be reconciled with the company’s financials. According to the I-T department, the “completeness of the ERP also needs to be established by appropriate procedures.” The I-T department also claimed that the auditor’s report backed up its initial claim that Huawei India’s data dump was insufficient to calculate its taxable income.
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Huawei appears to be sinking deeper into trouble, as the company’s auditor has told the Income Tax (I-T) Department that the raw ERP data dump provided by the company to the department was ‘insufficient’ to audit its books.
According to the company’s statutory auditor, the raw data dump provided by Huawei Telecommunications (India) had to be reconciled with the company’s financials. According to the I-T department, the “completeness of the ERP also needs to be established by appropriate procedures.” The I-T department also claimed that the auditor’s report backed up its initial claim that Huawei India’s data dump was insufficient to calculate its taxable income.
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.
