Dear Chartered Accountants, working professionals and students in the domains of Indian auditing, accounting and the tax & regulatory space, welcome to Podcast of FCA Deepak Rao a practicing Chartered Accountant. Hot topic bulletin Deloitte's resignation of statutory auditor of Byju's and Akash Educational Deloitte, one of the biggest audit firms in the world, has tendered its resignation as the statutory auditor of Byju's, adding to a long list of troubles for India's most valued startup. Deloitte said in a statement "The financial statements of the Company for the year ended March 31, 2022 are long delayed. We have also not received any communication on the resolution of the audit report modifications in respect of the year ended March 31, 2021, and the status of audit readiness of the financial statements and the underlying books and records for the year ended March 31, 2022 and we have not been able to commence the audit as on date," Deloitte added, “As a result, there will be a significant impact on our ability to plan, design, perform and complete the audit in accordance with the applicable auditing standards. In view of the aforesaid, we are tendering our resignation as statutory auditors of the Company with immediate effect," Byju's appointed BDO or MSKA & Associates as Deloitte's replacement and as the company's statutory auditors for the year commencing from FY22 for the next five years. BDO will also be the statutory auditor of the consolidated group and will audit IPO-bound Aakash Educational Services. This Podcast is sponsored by Sound of CA: We share because we care. Vande Mataram Jai Hind