India, April 28 -- "The financials are true and fair with a clean report. The controls within the company were identified as weak by Deloitte, however, it is confirmed that these control weaknesses have no impact on the company's consolidated financial statements," VerSe Innovation cofounder Umang Bedi told Inc42.

This comes as Bengaluru-based VerSe Innovation, the parent company of Dailyhunt and Josh, saw its auditor Deloitte flagging weaknesses in its internal financial controls in its audit report for the financial year ending March 2024 (FY24).

The audit highlighted several gaps in VerSe Innovation's internal processes, including supplier selection, expense provision, revenue recognition, handling of virtual assets, and IT systems c...