Auditors Charged In Relation To Satyam Fraud Case

Tue, 14 Apr 2009

Two India-based auditors have been charged over the huge fraud case at Indian software company Satyam.

Price Waterhouse India employees S Gopalakrishnan and Srinivas Talluri, who were responsible for signing off the company's accounts, have been formally indicted along with the firm's founder Ramalinga Raju.

Mr Raju thrust Satyam into the spotlight in January after admitting that he had exaggerated Satyam's cash holdings by more than $1 billion (£0.68 billion).

Responding to the charges, Price Waterhouse India released a statement saying: "Price Waterhouse India is surprised and disappointed that the Central Bureau of Investigation has pressed charges against the two partners who worked on the audit of Satyam's financial statements."

It added that the firm was awaiting exact details of the charges the pair face before deciding whether to take any action against them.

The accountancy firm had previously stated that the auditing of Satyam's accounts was carried out in accordance with the applicable standards and was supported by appropriate evidence.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.