Price Waterhouse Chartered Accountants LLP has resigned as the statutory auditor of Arisinfra Solutions Limited, citing an inability to continue the audit at significantly reduced fees sought by the company.
“Under the circumstances, we have reassessed our ability to continue as auditor in terms of Standards on Auditing and Standards on Quality Control issued by the Institute of Chartered Accountants of India basis which we wish to inform you that considering our estimate of time and effort involved we would not be able to undertake the audit at the reduced fee,” Price Waterhouse Chartered Accountants said in their resignation letter,
In a regulatory filing to stock exchanges on Thursday, Arisinfra said PwC’s resignation takes effect from May 14, 2026. The auditor had been appointed for a five-year term from FY24 to FY28.
According to the resignation letter, PwC had sought an increase in audit fees, factoring in the estimated time and effort required for the audit of the company’s financial statements for the year ended March 31, 2027. However, the company requested a “significant reduction” in fees compared to what was paid for the FY26 audit, prompting the firm to reassess its ability to continue under the applicable auditing and quality control standards.
“Considering our estimate of time and effort involved, we would not be able to undertake the audit at the reduced fee,” PwC said in its communication to the board, adding that the decision was taken following discussions with those charged with governance.
PwC clarified that it had already issued its audit reports on both standalone and consolidated financial statements and annual financial results for the year ended March 31, 2026, on May 8, 2026, before tendering its resignation.
The resignation does not involve any concerns relating to audit evidence, information access, or management-imposed limitations, the firm said, adding that there were no other material reasons for stepping down.
