Archive · 19 Jun 2025
OnePlus India Faces Audit Scrutiny Over Compliance Issues
Imagine a company called OnePlus that makes phones in India.
Auditors, who check their financial records, found some problems.
The company used accounting software hosted outside of India, and some of the computer code was written in a foreign language, which made it hard to check if everything was correct.
They also found the company was late in paying money into the employees' retirement fund.
The auditors are worried that the government might investigate.
OnePlus is working on fixing these issues and updating their systems.
OnePlus India faced scrutiny after auditors flagged compliance and operational issues.
Issues include foreign-hosted accounting software, program codes in a foreign language, and delayed provident fund contributions.
The auditors flagged the risk of potential action from the Enforcement Directorate and the Income Tax Department.
OnePlus is updating its IT systems and addressing the concerns raised by the auditors.
Despite the issues, OnePlus reported operating revenue of INR 15,217 Cr and a net profit of INR 230 Cr for FY24.
- Who
- OnePlus India and its auditors
- What
- Auditors flagged compliance and operational issues at OnePlus India.
- When
- FY24
- Where
- India
- Why
- Due to the use of foreign-hosted accounting software, program codes in a foreign language, and delayed provident fund contributions
Company Position
Auditors' Concerns
Compliance
Company Position
OnePlus is addressing concerns, updating IT systems, and has taken steps to make outstanding provident fund payments.
Auditors' Concerns
The audit revealed issues, including the use of foreign-hosted software, program codes in a foreign language, and delayed payments.
- Company
- OnePlus India
- Auditors
- Shah & Jain Chartered Accountants, Grant Thornton Bharat LLP
- Issues
- Foreign-hosted accounting software, program codes in a foreign language, delayed provident fund contributions
- Parent Company
- Guangdong OPPO Mobile Telecommunications Corp
- Operating Revenue (FY24)
- INR 15,217 Cr
- Net Profit (FY24)
- INR 230 Cr