Auditor27 May 2026, 06:32 pm
SecUR Credentials: Impact of Audit Qualifications for FY24
AI Summary
SecUR Credentials Ltd has released a statement regarding the impact of audit qualifications in the auditor's report for the financial year 2023-24. The auditor raised concerns about a debit balance of ₹205.09 Lakhs in the director's ledger account due to a lack of supporting documentation for expenses. Further qualifications include unbilled revenue and uncollected interest on loans. The management is reviewing the details and believes there is no material impact on profit and loss.
Key Highlights
- Auditor flagged ₹205.09 Lakhs debit balance in director's ledger due to missing documentation.
- Concerns raised over unbilled revenue and compliance with Ind AS 115.
- Auditor noted the company did not collect interest on outstanding loans and advances.
- Management believes delayed billing is routine and has no material impact on profit/loss.
Price Impact
More from SECURCRED