Raj Rayon Industries Limited - Clarification

12 Aug 2022 , 12:00 AM

The Exchange has sought clarification from Raj Rayon Industries Limited with respect to announcement dated 12-Aug-2022 informing about Resignation of Statutory Auditor.On the basis of aforesaid announcement, the Company is required to provide/clarify the following:Auditor Resignation 1. In case the information requested by the auditor was not provided, then following shall be disclosedA) Whether the inability to obtain sufficient appropriate audit evidence was due to a management-imposed limitation or circumstances beyond the control of the managementB) Whether the lack of information would have significant impact on the financial statements/results.C) Whether the auditor has performed alternative procedures to obtain appropriate evidence for the purposes of audit/limited review as laid down in SA 705 (Revised)D) Whether the lack of information was prevalent in the previous reported financial statements/results. If yes, on what basis the previous audit/limited review reports were issued. 2. Detailed reason for resignation 3. In case of any concerns, efforts made by the auditor prior to resignation ((including approaching the Audit Committee/Board of Directors along with the date of communication made to the Audit Committee/Board of Directors) 4. Other facts relevant to the resignation, if any. 5. Name of the listed entity/ material subsidiary 6. Details of the statutory auditor 7. Details of association with the listed entity/ material subsidiaryThe response of the company is awaited.