BYJU’S CFO Ajay Goel provided crucial updates during the recently-held Extraordinary General Meeting (EGM) of shareholders regarding the onboarding of BDO, the company’s new auditors, and the progress of the audit process.
Goel informed the attendees about the onboarding process of BDO, which will serve as the company’s statutory auditors. He revealed that BDO will cover the audit for Aakash, WhiteHat Jr, Think & Learn, as well as the overall group consolidation. He further emphasised that the teams of both BDO and BYJU’S are actively engaged in the onboarding process.
Regarding the audit progress, Goel revealed that the audit for some of the subsidiaries for FY22 has been successfully completed. To optimise timelines, he plans for the audit of Aakash, WHJr, and T&L to be conducted simultaneously. He expressed optimism that BDO will allocate sufficient resources for this work, enabling timely closure.
Goel reiterated the company’s confidence in meeting the previously communicated timelines. The completion of the FY22 audit is set for the end of September, while the FY23 audit is expected to conclude by the end of December. He expressed his positive outlook and optimism in achieving these targets.
The update from the newly-appointed CFO resonated with all the attendees, as was evident from their statements of appreciation towards the end of the meeting.
The next shareholders’ meeting is scheduled to be held in about three weeks’ time, when Ajay Goel, along with CEO Byju Raveendran is expected to provide more updates about the progress of audit and the constitution of a Board Advisory Committee (BAC), among other matters.
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