| | JULY 20238BYJU has appointed BDO (MSKA & Associates), one of the worldwide known audit firms trusted by many Fortune 500 businesses, as its statutory auditors for the fiscal year beginning in FY22 and continuing for the next five years. BDO's significant experience dealing with multi-national clients highlights their skill in managing the intricacies of consolidation, which is especially important for BYJU'S given its many global acquisitions in the last three years.BDO will cover the parent company, Think and Learn Pvt Ltd, its major subsidiaries, such as Aakash Education Services Limited, and the overall group consolidated results under this assignment. This comprehensive audit coverage will provide a full perspective of BYJU's financial performance and ensure organisational transparency.BDO was chosen as BYJU's auditors following a rigorous evaluation process led by the business's new Group Chief Financial Officer, Ajay Goel, who joined the company a month ago and has swiftly become acquainted with its financial landscape. BDO's experience as an auditor for BYJU's subsidiaries ensures familiarity with the organization's activities, allowing for a more efficient completion of the group-level audit, which is expected to be completed in the next quarter. "After a well-structured selection process, we chose BDO as our auditors with great confidence." Their remarkable capabilities and expertise in offering audit services to globally diverse large-scale corporations make them an ideal match for our firm. "We are excited to work with BDO to maintain the highest levels of financial scrutiny and accountability," said Goel. Following RBI approval, IDFC First Bank promoted Madhivanan Balakrishnan to Whole-Time Director. He will continue to work as IDFC First Bank's Chief Operating Officer (COO). Balakrishnan joined IDFC First Bank as COO in 2019 and has been instrumental in the bank's operations and expansion. His experience includes banking, insurance, FMCG, durables, and IT & ITES, making him a flexible professional with a thorough awareness of varied market dynamics.Balakrishnan was crucial in establishing new businesses at ICICI Bank prior to joining IDFC First Bank. Balakrishnan previously served as ICICI Bank's Chief Technology and Digital Officer (CTDO). In this job, he was in charge of establishing the bank's digital proposition and driving the group's technological agenda. He also oversaw business intelligence operations and spearheaded initiatives to develop the ICICI Group Digital Ecosystem.Balakrishnan was also the Managing Director and Global CEO of 3i Infotech Limited, a well-known IT product and services firm focused on ERP and BFSI solutions. From 2010 to 2012, he was also the Executive Director of ICICI Prudential Life. Balakrishnan has been a key component of the ICICI Group's transformation at ICICI Bank since 2000. He was instrumental in the establishment of the bank's "Direct Banking" section. He was the founder and director of Loyalty Services Management (now Payback), a successful coalition loyalty programme launched by ICICI Bank under ICICI Ventures. Balakrishnan graduated from Mumbai University with a Bachelor of Science in Chemistry and a Post Graduate Diploma in Marketing from the Indian Institute of Management, Calcutta. BYJU APPOINTS BDO AS ITS STATUTORY AUDITORIDFC BANK PROMOTES MADHIVANAN BALAKRISHNAN AS FULL-TIME DIRECTORIN FOCUSIN FOCUS
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