Infosys Audit Committee finds no evidence of financial impropriety or executive misconduct



Infosys Audit Committee

Infosys (NYSE: INFY), a world leader in next-generation digital 
services and consulting, today

 announced that its Audit Committee of the Board of Directors 
(the "Audit Committee") 

has concluded the independent investigation ("investigation") 
into allegations contained in the

 anonymous whistleblower complaints the company disclosed 
on October 21, 2019 

("whistleblower complaints") and determined that the allegations 
are substantially without merit. 

The Audit Committee conducted a thorough investigation with the 
assistance of independent legal 

counsel Shardul Amarchand Mangaldas & Co. and 
PricewaterhouseCoopers Private Ltd. 

(collectively "investigation team"). 

The findings of the investigation were adopted by the Board of
 Directors of the Company.

 The Audit Committee concluded that no restatement of 
previously announced financial statements 

or other published financial information is warranted.

Infosys' Audit Committee Chairperson, D. Sundaram, stated, 
"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 Chairman Nandan Nilekani said, "I am pleased that 
after a rigorous investigation,

 the Audit Committee has found no wrongdoing by the Company 
or its Executives.

 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 organization 
and driving momentum and the Board 

is confident that he will continue to execute on the company's
 new strategic direction successfully."




About Gosip4U

Gosip4U is the digital wing of india - India's leading media and communications group with its interests spanning across country.

0 comments:

Post a Comment

Please add comment