New Delhi, July 23 -- The government has decided to move with caution while changing the rules governing audit. The decision comes despite the slew of defaults by non-bank lender Infrastructure Leasing and Financial Services Ltd group, which has more than Rs.90,000 crore in debt, igniting a liquidity crisis in the shadow banking sector last year. The crisis had prompted policymakers to take a long hard look at how to better regulate key gatekeepers in the corporate world-statutory auditors.

The ministry of corporate affairs will, therefore, examine structural problems in corporate governance and issues such as manpower requirement and the cost of giving quality audit services, concentration of auditors in the industry, and the impact of po...