Forensic Audit by Grant Thornton Shows Improper Handling of Whistle-blower Complaints

Grant Thornton India LLP (GT), which was appointed to conduct a forensic audit of IL&FS Engineering and Construction Co Ltd (IECCL), a unit of Infrastructure Leasing & Financial Services (IL&FS), shows lack of systems and records to handle complaints raised by whistle-blowers. The forensic auditor identified numerous email communications that highlighted whistle-blower complaints with regard to to the business operations of IECCL. 

GT says, during its review, it had identified multiple whistle-blower complaints which, which highlighted anomalies in the projects executed by IECCL. 

“However, based on the clarification dated 22 November 2019, we were informed by the representatives of IECCL that there were no whistle-blower complaints received by IECCL during the review period. Thus, it appears unusual that even after multiple…