Byju's Assures Investors It Will Close FY22 Audit By September In a call with shareholders on Saturday, BYJU'S CEO Byju Raveendran admitted his past mistakes and assured shareholders that his learnings far outweigh any missteps

Edtech major BYJU'S has committed its investor to close the long-pending audit of the financial year 2022 by September and fiscal year 2023 by December, according to a PTI report, sources aware of the development. In a call with shareholders on Saturday, BYJU'S CEO Byju Raveendran admitted his past mistakes and assured shareholders that his learnings far outweigh any missteps.

During the call, Raveendran reportedly acknowledged the resignation of board members but said that the company has not yet accepted them and information about their resignation was leaked out prematurely.

"Byju Raveendran introduced Group CFO Ajay Goel on the call. Goel has committed to close the audit of financial year (FY) 2022 and FY 2023 by September and December respectively," the report acknowledged.

Also, Deloitte Haskins & Sells, which was slated to audit Byju's until 2025, stepped down with "immediate effect" midterm, stating that "the financial statements of the company are long delayed."

In a letter sent to the board of Think & Learn Pvt Ltd (known as Byju's), Deloitte said it has not been able to start an audit due to the delays and that will have a "significant impact" on its ability to 'plan, design, perform and complete' the audit as per standards.

BYJU'S board members, including GV Ravishankar, MD of early-backer Peak XV Partners (formerly Sequoia Capital India), Russell Dreisenstock of Prosus and Chan Zuckerberg's Vivian Wu resigned and sources said that they were also on the call.

Raveendran during the call updated shareholders that despite the challenges faced, most business verticals are performing well. He also mentioned that all the secondaries done have been invested back in the company at $22 billion valuation, the report added.