It's possible that PwC's initial findings about IndusInd Bank called for a forensic audit.

The lender reportedly ordered a forensic audit as a consequence of a PwC investigation to determine the degree of the impact on IndusInd Bank's financials caused by specific shortcomings in the accounting standards of derivative instruments.

The bank has officially referred to the PwC process as a review.

The sources state that by the end of this week (March 28), a final report is probably going to be presented to the IndusInd Bank board.

According to information obtained, a forensic audit may have been started based on certain preliminary results of the PwC exercise even before the final report was presented to the board.