ICAI will review Yes Bank's financial statements

New Delhi, Mar 11: Chartered accountants' apex body ICAI will review financial statements of crisis-hit Yes Bank.

The Financial Reporting Review Board (FRRB) of the Institute of Chartered Accountants of India (ICAI) would take up the review of general purpose financial statements of Yes Bank for 2017-18 and 2018-19.

"In case the FRRB finds any material / serious non-compliance, it would refer the case to the Director (Discipline) of ICAI for initiating action against the Auditor...," the institute said in a statement on Monday.

Yes Bank was placed under moratorium by the Reserve Bank last week.