Byju’s audit firm Deloitte sought two key changes in FY21 financials

India’s most valued startup Byju’s readjusted its unaudited revenues for FY21 following two key changes sought by its official audit firm, Deloitte Haskins & Sells. One, the nature of revenue recognition was changed. If the company sold a three-year course, for example, it had been accounting for the whole payment as revenue in the same fiscal year. The auditor said it should be deferred over the period.