After PwC's ban for Satyam role, auditor resignation at 6-year high in 2018

The auditors stepped down only days before finalising the annual accounts, citing inadequate information shared by the companies during the audit

The year 2018 has seen the highest number of mid-term auditor resignations in six years, according to data from PRIME  Database. In 2018, the tally stood at 42, more than thrice the previous year.

Experts say the rise in resignations has been due to the Securities and Exchange Board of India’s (Sebi’s) decision to bar Price Waterhouse for two years as auditors in the Satyam scam. 

The sweeping nature of the order, which came in January 2018, said neither PwC nor the audit firms in its network (PwC India) were allowed to audit any listed company or intermediary (such as brokers) for