Question
According to the Independent Auditor’s Report in the
FY 2024–25 Annual Report of India Infrastructure Finance Company Limited, which of the following was identified as a Key Audit Matter (KAM)?Solution
For development finance institutions like India Infrastructure Finance Company Limited, the largest asset on the balance sheet is loans to infrastructure projects. Therefore, auditors focus heavily on: • Expected Credit Loss (ECL) estimation • Classification of loans (Stage 1, Stage 2, Stage 3) • Probability of default assumptions • Recovery estimates from infrastructure projects Hence, impairment of loans and advances under ECL provisioning becomes a Key Audit Matter.
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