Meanings of statutory auditor in English

At the meeting, TIM shareholders approved the 2017 financial statements, the company's remuneration policy and elected a new board of statutory auditors.

Several experts have also questioned the failure of external auditors approved by India's central bank - known as statutory auditors - to detect the illegalities.

The Institute of Chartered Accountants of India (ICAI) has also begun probing the matter and issued notices to statutory auditors seeking an explanation, it said.