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Byju’s second auditor to leave next year amid bankruptcy proceedings

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Second Byju’s auditor exits in a year amid bankruptcy proceedings

BDO, the auditor of Indian edtech startup Byju’s, has resigned with immediate effect, the second departure of an auditor from the struggling company in a couple of year, further raising concerns about its financial health and governance.

In a devastating resignation letter, MSKA, a subsidiary of BDO, highlighted various issues with Byju’s, including significant delays in financial reporting, inadequate management support and concerns over the corporate’s ability to get better significant dues from the Dubai-based entity.

The auditor’s decision to withdraw its investment comes at a time when Byju’s, once India’s most beneficial startup at $22 billion, has been grappling with a series of crises, including the Supreme Court’s recent decision to reopen bankruptcy proceedings against the startup.

Deloitte, Byju’s previous auditor, and key members of the startup’s board resigned last year, citing governance issues at the corporate.

MSKA, appointed in August 2023 for a five-year term, stated in her resignation letter: “The Company’s management did not provide us with sufficient support in providing the accounting records, information and explanations we requested, as well as sufficient and appropriate audit evidence that would enable us to complete the audit for the 2022-2023 financial year.”

A Byju’s spokesperson said in a press release that BDO’s demands on the corporate involved “crossing ethical and legal boundaries”.

“The real reason behind BDO’s resignation is BYJU’S’ adamant refusal to backdate its reports, while BDO went to the extent of recommending a firm that could facilitate such illegal activity. There are multiple call recordings where BDO officials clearly suggest backdating these documents, which BYJU’S refused to do. BYJU’S strongly believes that this is the primary reason for their resignation,” the Byju’S spokesperson added.

MSKA disclosed that it had filed a Form ADT 4, indicating potential fraud or criminality at the corporate.

The resignation letter also highlighted concerns over ongoing legal proceedings against Byju’s and its management, including initiation of liquidation proceedings by lenders and accusations of harassment and mismanagement by minority shareholders.

MSKA noted instances where Byju’s failed to provide the audit team with vital information, similar to notifications of general shareholders’ meetings and bankruptcy proceedings.

The auditor’s departure adds to the mounting challenges facing Byju’s, whose valuation has plummeted amid missed financial deadlines, revenue shortfalls and conflicts with investors. Major backers including Prosus and Peak XV had earlier alleged governance issues and sought legal motion to oust founder Raveendran.

The edtech company’s troubles have intensified in recent months, with India’s Supreme Court recently staying a tribunal ruling that had halted bankruptcy proceedings against the corporate. U.S. creditors are in search of to get better $1 billion from Byju’s, adding to the pressure on the once-celebrated startup.

This article was originally published on : techcrunch.com
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US medical device giant Artivion says hackers stole files during a cybersecurity incident

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Artivion, a medical device company that produces implantable tissue for heart and vascular transplants, says its services have been “disrupted” resulting from a cybersecurity incident.

In 8-K filing In an interview with the SEC on Monday, Georgia-based Artivion, formerly CryoLife, said it became aware of a “cybersecurity incident” that involved the “compromise and encryption” of information on November 21. This suggests that the corporate was attacked by ransomware, but Artivion has not yet confirmed the character of the incident and didn’t immediately reply to TechCrunch’s questions. No major ransomware group has yet claimed responsibility for the attack.

Artivion said it took some systems offline in response to the cyberattack, which the corporate said caused “disruptions to certain ordering and shipping processes.”

Artivion, which reported third-quarter revenue of $95.8 million, said it didn’t expect the incident to have a material impact on the corporate’s funds.

This article was originally published on : techcrunch.com
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It’s a Raspberry Pi 5 in a keyboard and it’s called Raspberry Pi 500

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Manufacturer of single-board computers Raspberry Pi is updating its cute little computer keyboard device with higher specs. Named Raspberry Pi500This successor to the Raspberry Pi 400 is just as powerful as the present Raspberry Pi flagship, the Raspberry Pi 5. It is on the market for purchase now from Raspberry Pi resellers.

The Raspberry Pi 500 is the simplest method to start with the Raspberry Pi because it’s not as intimidating because the Raspberry Pi 5. When you take a look at the Raspberry Pi 500, you do not see any chipsets or PCBs (printed circuit boards). The Raspberry Pi is totally hidden in the familiar housing, the keyboard.

The idea with the Raspberry Pi 500 is you could connect a mouse and a display and you are able to go. If, for instance, you’ve got a relative who uses a very outdated computer with an outdated version of Windows, the Raspberry Pi 500 can easily replace the old PC tower for many computing tasks.

More importantly, this device brings us back to the roots of the Raspberry Pi. Raspberry Pi computers were originally intended for educational applications. Over time, technology enthusiasts and industrial customers began using single-board computers all over the place. (For example, when you’ve ever been to London Heathrow Airport, all of the departures and arrivals boards are there powered by Raspberry Pi.)

Raspberry Pi 500 draws inspiration from the roots of the Raspberry Pi Foundation, a non-profit organization. It’s the right first computer for college. In some ways, it’s a lot better than a Chromebook or iPad because it’s low cost and highly customizable, which inspires creative pondering.

The Raspberry Pi 500 comes with a 32GB SD card that comes pre-installed with Raspberry Pi OS, a Debian-based Linux distribution. It costs $90, which is a slight ($20) price increase over the Raspberry Pi 400.

Only UK and US keyboard variants will probably be available at launch. But versions with French, German, Italian, Japanese, Nordic and Spanish keyboard layouts will probably be available soon. And when you’re in search of a bundle that features all the things you would like, Raspberry Pi also offers a $120 desktop kit that features the Raspberry Pi 500, a mouse, a 27W USB-C power adapter, and a micro-HDMI to HDMI cable.

In other news, Raspberry Pi has announced one other recent thing: the Raspberry Pi monitor. It is a 15.6-inch 1080p monitor that’s priced at $100. Since there are quite a few 1080p portable monitors available on the market, this launch is not as noteworthy because the Pi 500. However, for die-hard Pi fans, there’s now also a Raspberry Pi-branded monitor option available.

Image credits:Raspberry Pi

This article was originally published on : techcrunch.com
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Apple Vision Pro may add support for PlayStation VR controllers

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Vision Pro headset

According to Apple, Apple desires to make its Vision Pro mixed reality device more attractive for gamers and game developers latest report from Bloomberg’s Mark Gurman.

The Vision Pro was presented more as a productivity and media consumption device than a tool geared toward gamers, due partly to its reliance on visual and hand controls moderately than a separate controller.

However, Apple may need gamers if it desires to expand the Vision Pro’s audience, especially since Gurman reports that lower than half one million units have been sold to this point. As such, the corporate has reportedly been in talks with Sony about adding support for PlayStation VR2 handheld controllers, and has also talked to developers about whether they may support the controllers of their games.

Offering more precise control, Apple may also make other forms of software available in Vision Pro, reminiscent of Final Cut Pro or Adobe Photoshop.

This article was originally published on : techcrunch.com
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