Indosolar Limited has informed the Exchange regarding Change in Auditors of the company.
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Indosolar Limited has appointed M/s. S.G.C.O. & CO. LLP (Firm Registration No. 112081W/W100184) as its new Statutory Auditor to fill the casual vacancy caused by the resignation of the previous auditor, M/s. A.K.G. & Associates. The new auditor will serve for a 5-year term covering financial years 2023 to 2027, until the AGM to be held in 2027. The appointment was approved by shareholders at the company's 15th Annual General Meeting held on May 9, 2025. The new auditor is described as a multi-disciplinary Category-1 accountancy firm offering business advisory and attest services.
Auditor changes can sometimes raise governance concerns, especially when triggered by a resignation rather than a routine rotation. Shareholders should monitor whether the previous auditor's exit was related to any audit qualifications or disagreements. The appointment has received shareholder approval, which provides some governance comfort.