Quality Of Financial Reporting Of Central Public Sector Enterprises In India: A Case Study Of India Infrastructure Finance Company Limited

Abstract

The quality of financial reporting within Central Public Sector Enterprises (CPSEs) in India is a critical aspect of the country's economic landscape, with implications for transparency, accountability, and economic growth. This paper investigates the various categories of errors that can compromise the integrity of financial reporting within India Infrastructure Finance Company Limited (IIFCL), including accounting errors, statutory errors, errors by auditors, errors by directors, and repetitive errors. These errors question the accuracy and reliability of financial reports and their consequences for stakeholders, including investors, regulators, and the public. Through a comprehensive analysis of these issues, the research aims to enhance understanding of the challenges and vulnerabilities in financial reporting within CPSEs and contribute to the ongoing discourse on governance and accountability in the Indian public sector. The findings and insights presented in this study are crucial for fostering transparency and trust in the financial reporting practices of CPSEs in India and also highlights the role of directors, auditors and audit committee in presenting true and fair financial statements to the stakeholders