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: empanelment :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: VAT RATES :: form 3cd :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: due date for vat payment :: TDS
 
 
News Headlines »
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns
 Government may set threshold for probe into deposits to prevent harassment of taxpayers
 How to calculate capital gains tax
 April 1 still the target for GST: FM
 How to respond to CBDT’s tax compliance notice
 Goods & Services Tax (GST)(As On 01-01-2017)
 Excise, service taxpayers to migrate to GST portal by January 31
 Tax numbers belie slowdown: FM
 Income tax (1st Amendment) Rules, 2017

Satyam audit reports may be deemed unreliable: PwC
January, 15th 2009

Price Waterhouse, auditors of Satyam for over eight years, has informed the scam-ridden IT firm's new board that its audit of the company's financials could be "inaccurate and unreliable" in view of the financial irregularities disclosed by Ramalinga Raju.

Noting that it has been auditing Satyam Computer since the quarter ended June 2000 till September 2008, Price Waterhouse said that all those financial statements were prepared by the management.

It further said that it relied "on management controls over financial reporting, and the information and explanations provided by the management, as also the verbal and written representations made to us during the course of our audits."

Satyam as well as PwC are the subject of regulatory and government investigation into the country's biggest corporate fraud - involving Rs 7,800 crore - disclosed by Satyam founder Ramalinga Raju. Raju, his brother Rama Raju and Satyam CFO Vadlamani Srinivas are in judicial custody now.

"We hope to work with the company and provide assistance to the new board of directors to address any issues that arise in the course of such investigations to enable both the company and us as your statutory auditors to fulfil obligations under applicable law."

Copies of the letter, dated January 13, were also sent to RoC Hyderabad, SEBI, RBI, Central Board of Direct Taxes, BSE, NSE and NYSE.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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