The Adani Group has opted for a change in auditors for its principal UK subsidiaries, entrusting the responsibilities to London-based firm Ferguson Maidment & Co. This decision comes in the wake of the resignation of the previous auditor, Crowe UK, which occurred in March, as reported by The Financial Times.
As detailed by FT, Ferguson Maidment & Co recently undertook the audit of the annual accounts filed by Adani Energy Holdings and its affiliated companies with the UK government agency Companies House.
It is worth noting that Deloitte, the auditor of Adani Ports, resigned from its position in August. Deloitte cited concerns related to specific transactions highlighted in a report by the short-seller Hindenburg Research as the basis for its resignation. Furthermore, Deloitte's decision to step down came after Adani Ports declined to initiate an independent inquiry into these transactions.
In response to Deloitte's resignation, the Adani Group, led by billionaire Gautam Adani, issued a statement expressing that the reasons presented by Deloitte for their departure were deemed "neither convincing nor sufficient to warrant such a move."
