Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: due date for vat payment :: TDS :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: empanelment :: VAT Audit :: VAT RATES :: form 3cd :: articles on VAT and GST in India :: ACCOUNTING STANDARD
 
 
News Headlines »
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government

Foreign audit firms not to probe PwC: Satyam director
January, 16th 2009

The audit firms appointed to restate the account books of scam-tainted Satyam Computer Services will not investigate the role of
PricewaterhouseCoopers (PWC) in the Rs 70-billion (Rs 7,000-crore/$1.43-billion) revenue fraud at the IT bellwether, a board member said Thursday.

'The job of the two foreign audit firms - KPMG and Deloitte Touche Tohmatsu - is to restate the books of accounts and not to carry out an investigation into the affairs of Satyam Computer or its statutory auditors,' T N Manoharan, the newly-appointed board member of Satyam Computer Services, told IANS.

'Investigation is being done by various governmental bodies,' he added.

Son of T L Narayana Chowdhry, a 92-year-old a freedom fighter, Manoharan, 51, is a partner in Manoharan Chowdhry Associates, a city-based auditing firm.

Also a qualified lawyer, Manoharan is a past president of the Institute of Chartered Accountants of India (ICAI).

While his auditing background will be of great help in coming to grips with Satyam's financial numbers, he said he will work towards bringing the beleaguered company back on track.

'I can contribute in bringing financial stability for the company. I will work towards achieving the mandate given by the Ministry of Corporate Affairs,' Manoharan said.

'We will strive to restore the confidence of Satyam investors, customers and employees while ensuring the financial stability of the company.'

The government Thursday appointed three more nominees to the board of Satyam Computer, including Manoharan. The other two members are Tarun Das, chief mentor of the Confederation of Indian Industry (CII), and Suryakant Balakrishnan, a nominee of the Life Insurance Corp of India.

The government had earlier nominated three members to Satyam's board.

They are Deepak Parekh, chairman of Housing Development Finance Corp, Kiran Karnik, former president of the National Association of Software and Service Companies, and C Achuthan, former member of the Securities and Exchange Board of India.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions