New Delhi, May 29 -- The Institute of Chartered Accountants of India (ICAI) will review fraud-hit IndusInd Bank's financial statements for 2023-24 and 2024-25.

The institute's Financial Reporting Review Board (FRRB) will carry out the review.

"It has been decided in the FRRB Board meeting today that FRRB of ICAI will undertake the review of the financial statements and the statutory auditor's reports of the IndusInd Bank Limited for the financial years 2023-24 and 2024-25," ICAI President Charanjot Singh Nanda told PTI on Thursday.

FRRB conducts the review of financial statements of companies to assess compliance with Accounting Standards, Standards on Auditing, Schedule II and III of the Companies Act, 2013, among others.

Also, FRRB ...