IREDA appoints Shiv & Associates and MAPSS as joint statutory auditors for FY27
- Indian Renewable Energy Development Agency Limited appointed M/s Shiv & Associates and M/s MAPSS & Co. as joint statutory auditors for FY27
- The appointment was conveyed by the Comptroller and Auditor General of India via letters dated September 7 and September 25, 2026
- M/s Shiv & Associates served as the sole statutory auditor for FY26 before transitioning to a joint role in FY27
- Both firms are based in New Delhi with extensive experience auditing Maharatna, Navratna, and Fortune 500 companies
*this image is generated using AI for illustrative purposes only.
Indian Renewable Energy Development Agency Limited has appointed M/s Shiv & Associates and M/s MAPSS & Co. as its joint statutory auditors for the fiscal year 2026-27 (FY27). The appointment was conveyed by the Comptroller and Auditor General of India (C&AG) through letters dated September 7, 2026, and September 25, 2026.
The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. IREDA informed the National Stock Exchange of India Limited and BSE Limited regarding the change in statutory auditors.
Auditor profiles
The newly appointed firms bring significant experience in auditing public sector entities and large corporations. Details of the two chartered accountant firms are outlined below:
| Firm Name | Year Established | Location | Key Features |
|---|---|---|---|
| M/s Shiv & Associates | 1990 | New Delhi | 13 partners; services include assurance, GST, taxation, risk management, and Ind AS/IFRS advisory. Clients include Fortune 500 companies, Maharatna and Navratna companies, and banks. |
| M/s MAPSS & Co. | 1984 | New Delhi | 16 partners across 18 locations in 6 regions; services include audit and assurance, banking audits, capital markets compliance, taxation, forensic services, and cyber-security audit. |
Appointment details
M/s Shiv & Associates previously served as the statutory auditor for FY26, having been appointed by the C&AG. For FY27, the role is shared with M/s MAPSS & Co., marking a transition to a joint auditor structure for the renewable energy financing agency.
The company confirmed that there are no relationships between directors and the appointed auditors that require disclosure under SEBI Master Circular No SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
Historical Stock Returns for IREDA
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.82% | +3.88% | -1.89% | -1.01% | -25.84% | +88.70% |
How might the transition to a joint auditor structure impact IREDA's financial reporting timelines and audit costs for FY27?
What specific renewable energy financing risks are MAPSS & Co.'s forensic and cyber-security services expected to address in the upcoming audit?
Will the inclusion of a firm with extensive capital markets compliance experience influence IREDA's future debt issuance or equity fundraising strategies?
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