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ICAI finds five auditors of Satyam guilty.

ALL the four PriceWaterhouse ( PW) auditors and S. Gopalakrishnan who signed the latest balance sheet of Satyam Computer Services Ltd were found guilty of misconduct in the fraud of over Rs 7,000 crore.

" Prima facie there has been professional misconduct on the part of all the five auditors who signed the balance sheet of Satyam Computer," said Uttam Kumar Agarwal, president of the Institute of Chartered Accountants of India ( ICAI).

The five auditors who were found guilty of professional misconduct include V. S. Prabhakara Gupta, V. Srinivasu, S. Gopalakrishnan, Srinivas Talluri and T. Sivaprasad.

" The director ( discipline) of the ICAI is expected to ask the guilty to submit their written statements.

The Disciplinary Committee of the institute will take action against the guilty under the New ICAI Act," Agarwal added. The New ICAI Act allows the institute to look into cases of utmost importance ahead of others.

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Publication:Mail Today (New Delhi, India)
Date:Sep 29, 2009
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