Appointment of Cost Auditors and Internal Auditors for FY 2026-27
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Indag Rubber's Board approved the appointment of M/s. Shome & Banerjee as Cost Auditors and M/s. Ernst & Young LLP as Internal Auditors for FY 2026-27, both effective from April 1, 2026. Shome & Banerjee brings 58 years of experience in cost audit and management consultancy. Ernst & Young LLP will provide risk-focused advisory and compliance services. The Cost Auditor remuneration is subject to shareholder approval at the upcoming Annual General Meeting. Both appointments were recommended by the Audit Committee and approved by the Board on May 28, 2026.
The appointment of a Big Four firm (EY) as internal auditor signals improved governance and internal control standards, which is positive for corporate governance. The stock is unlikely to see immediate price impact as these are routine appointments.