among nine people officially charged by the Indian Central Bureau
of Investigation (CBI) in connection with the Satyam accounting
scandal.
Charges include criminal conspiracy,
cheating by impersonation, forgery of valuable security,
falsification of accounts and causing disappearance of
evidence.
The scandal unfolded in January when financial
irregularities totalling more than $1 billion were discovered at
Satyam Computer Services.
PW auditors S Gopalakrishnan and Srinivas
Talluri were arrested later that month on charges of criminal
conspiracy and collusion in connection with fraud investigations
into the Indian software company.
PW, the Indian audit arm of global accounting
network PricewaterhouseCoopers, was Satyam’s external auditor.
The charges come despite former Satyam chief
financial officer Vadlamani Srinivas claiming the auditors had no
role in the scandal because they were given forged documents by the
company’s management.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSrinivas made the comments while being
interrogated about the fraud by the accountancy profession’s
regulatory body, the Institute of Chartered Accountants of India
(ICAI), the Economic Times in India reported.
Srinivas said former Satyam chairman Ramalinga
Raju committed the fraud, with participation from his brother Rama
Raju, cost accountant G Ramakrishna and Srinivas himself.
Institute of Cost and Works Accountants of
India president Kunal Banerjee said the cost accountant involved is
not a member of the institute.
“I do not know if he is a qualified cost
accountant, because even after qualifying some do not always take
membership,” Banerjee told The Accountant.
Banerjee said the fraud at Satyam was an
aberration and not the result of the failure of any particular
profession.
