Whalesbook
Sanofi Consumer Healthcare India has accepted the resignation of its statutory auditors, Kalyaniwalla & Mistry LLP. The firm's exit is effective April 30, 2026.
Auditors cited 'not commercially viable' fees as the reason for their departure, stating that continuing the FY 2026 audit at previous fee levels was no longer sustainable for them.
New Auditor Appointment Required
Following the resignation, Sanofi Consumer Healthcare India is now required to appoint a new statutory auditor to oversee its financial reporting. This process involves selecting a firm and formally communicating the appointment to regulatory bodies and shareholders.
No Audit Issues Found
Crucially, Kalyaniwalla & Mistry LLP confirmed that they encountered no issues in obtaining audit evidence or in their discussions regarding accounting matters during their tenure. This assurance helps to clarify that the resignation is solely related to fee structure and not due to any accounting discrepancies or audit challenges.
Context of Appointment
The auditors, Kalyaniwalla & Mistry LLP, were appointed relatively recently on April 25, 2024, with a term initially set to continue until the Annual General Meeting in FY 2029. The upcoming FY 2026 audit and subsequent periods will now fall under a new auditor.
The company will focus on a smooth transition to ensure continuity and compliance with financial regulations.