FT Auditor says FY13 accounts can't be relied upon, withdraws audit report

FTIL in a filing to BSE says, standalone, consolidated accounts of company for previous fiscal may undergo amendment with revised auditors' report

More trouble for scam ridden Financial Technologies led by Jignesh Shah. The company's auditor has said that the FY13 accounts cannot be relied upon and hence has withdrawn its audit report. 

Financial Technologies in a filing on the Bombay Stock Exchange have said that they will not discuss points one, two and five in tomorrow's AGM. 

 

The first point says that the stand alone and consolidated financial statements of the company for the previous financial year should not be relied upon. The second point which was to be discussed was that the company's financial statement for the previous fiscal were audited before the occurrence of NSEL issue. 

 

The filing also stated that FTIL stand alone and consolidated accounts of the company for the previous fiscal may undergo amendment together with revised auditors' report which will be approved and published once the amendment to stand alone and consolidated accounts is finalised.