Audit committee report: No evidence of financial impropriety or executive misconduct at Infosys
Team Udayavani, Jan 10, 2020, 6:34 PM IST
Bengaluru: Infosys on Friday said the board’s audit committee has completed the independent probe into the anonymous whistleblower allegations and found “no evidence” of financial impropriety or executive misconduct.
“The audit committee took the anonymous whistleblower complaints very seriously and commissioned a thorough investigation with the assistance of independent legal counsel. The audit committee determined that there was no evidence of any financial impropriety or executive misconduct,” Infosys Audit Committee Chairperson D Sundaram said in a statement.
The audit committee conducted a thorough investigation with the assistance of independent legal counsel Shardul Amarchand Mangaldas & Co and PricewaterhouseCoopers, it added.
The Bengaluru-based company, after its October quarter results, had informed the stock exchanges of anonymous whistleblower complaints that had alleged certain unethical practices by the top management.
Speaking about the findings, Infosys Chairman Nandan Nilekani said CEO Salil Parekh and CFO Nilanjan Roy are strong custodians of the company’s proud heritage.
“Salil has played a key role in reinvigorating the organisation and driving momentum and the board is confident that he will continue to execute on the company’s new strategic direction successfully,” he added.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Reverse migration has begun, says FM Nirmala Sitharaman
Markets sustain winning streak — Sensex jumps over 560 points, Nifty tops 22,300-level
Sensex climbs 640 points, Nifty tops 22,300-level in early trade
Insurance regulator IRDAI abolishes age restriction on health insurance product
Elon Musk says India visit delayed due to Tesla obligations
MUST WATCH
Latest Additions
TCS World 10K: New starting point, meticulous arrangements in place
Congress complains to EC, alleges ‘misinformation’ by BJP about manifesto
Bengaluru-Mangaluru special trains announced for April 25 and 26
Part of my destiny to have met Aditya Chopra, Shah Rukh Khan: Karan Johar
1,351 candidates in fray for phase 3 of Lok Sabha polls: EC