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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
ICAI »
 ICAI-Residential Programme at IIM Ahmedabad
 Launch of Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at Cuffe Parade, Mumbai from 6th April to 28th April, 2019
 Launch of Batch of Educational Course by ICAI Registered Valuers Organisation (ICAI RVO) at Bengaluru from 27th April, 2019 to 19th May, 2019.
 CPE Events 18th March -23th March 2019
 UDIN Being Made Mandatory in 2nd Phase for GST & Tax Audit Reports
 Announcement - CA Exams May 2019 - Apply for Changes/Corrections
 Request to Contribute Women Specific Articles for ICAI Monthly Journal The Chartered Accountant.
 Launch of Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at Vasai from 16th March to 31st March, 2019
 Exposure Draft of Definition of Business (Amendments to Ind AS 103) (Comments to be received by April 6, 2019)
 Exposure Draft of Definition of Material (Amendments to Ind AS 1 and Ind AS 8) (Comments to be received by April 6, 2019)
 Exposure Draft of Standard on Internal Audit (SIA) 230,Objectives of Internal Audit (Comments to be received by March 28, 2019)

Satyam fraud an aberration, not system failure: ICAI chief
January, 27th 2009

The Satyam fraud is an aberration and not a system failure, and accounting, auditing and ethical standards in the country are
world-class, Institute of Chartered Accountants of India President Ved Jain said.

"Our accounting, auditing and ethical standards are world-class...they are well-placed," Jain told reporters on the sidelines of a function here.

"I have been telling constantly that Satyam is not a system failure...Satyam is an 'aberration'. It is human greed, human desire, which made all this (Satyam fraud) possible," he said.

According to Jain, it was Satyam's founder B Ramalinga Raju, who was involved in the financial manipulations in the company's accounts.

"I am not talking about the auditors. I am talking about Satyam founder...Ramalinga Raju, who did all these manipulations. Now, who all are involved with him is a matter of investigation, which has to come out," he said.

When asked about role of Price Waterhouse (PwC), the statutory auditor of scam-tainted Satyam, Jain said "the information coming is that the financial statements of Satyam were not correct. It will be the investigation which will reveal where things went wrong."

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

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