Auditors face charges in Satyam fraud - Accountancy Age.
Auditors caught up in India’s Satyam scandal have been charged with the offence of luring investors to buy shares of the company by ‘knowingly certifying forged and inflated balance sheets’.
The allegations against PricewaterhouseCoopers’ Subramani Gopalakrishnan and Talluri Srinivas have been detailed in a written submission by the Central Bureau of Investigation (CBI) of India, made to the High Court in the state of Andhra Pradesh. The law enforcement body is opposing a bail application made for the accused.
Apparently though:
Meanwhile, any bad publicity associated with the Satyam affair does not appear to have dented PwC’s reputation. It has announced that it will be increasing its staff by 50% in India.
The raeson? International Financial Reporting Standards are coming to India. Now there's a cae of regualtion by the chaps for the benefit of the chaps if ever there was one.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
