boAt auditors flag financial, compliance lapses ahead of IPO

In an updated draft red herring prospectus, boAt's auditors have flagged multiple financial and compliance lapses. The auditors noted that the consumer electronics brand's quarterly statements submitted to banks did not align with its FY23, FY24 and FY25 books. They also flagged material uncertainty over the ability of two overseas subsidiaries to meet their liabilities in FY23 and FY24.