From Motherson to JSPL and Piramal to Sun, how unaudited subsidiaries make financial pictures hazy

For businesses, big or small, it is important to offer an assurance of fairness and ensure transparency in their dealings. It goes without saying that audits of the financial statements make that possible. But the audits should not be restricted to just the listed entities. In many companies, especially the large-cap ones, the audit procedure is often not followed at the subsidiaries level, and that can lead to a hazy picture of the overall