Sun Pharma: From Motherson to JSPL and Piramal to Sun, how unaudited subsidiaries make financial pictures hazy


From Motherson to JSPL and Piramal to Sun, how unaudited subsidiaries make financial pictures hazy

Concept by Muhabit ul haq

Synopsis

Financials of subsidiaries are as important as their parents. We have reviewed a list of BSE 100 companies, except PSUs and the BFSI sector, and found that of the 66 companies, 18 had one or more unaudited subsidiaries in the last three years. This leaves a big question mark on the reliability of the consolidated financials of an entity.

For businesses, big or small, it is important to offer an assurance of fairness and ensure transparency in their dealings. It goes without saying that audits of the financial statements make that possible. But the audits should not be restricted to just the listed entities. In many companies, especially the large-cap ones, the audit procedure is often not followed at the subsidiaries level, and that can lead to a hazy picture of the overall

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#Sun #Pharma #Motherson #JSPL #Piramal #Sun #unaudited #subsidiaries #financial #pictures #hazy

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