Deloitte, KPMG are new joint auditors for Satyam

January 13th, 2009 NEW DELHI - In a curious twist to the Satyam Computer Services fraud, its erstwhile auditors PricewaterhouseCoopers (PwC) have said their opinion on the financials of the beleaguered company may be rendered 'inaccurate and unreliable', even as the newly appointed three-member board Wednesday appointed Deloitte and KPMG as the new joint auditors. In a letter to the board of Satyam, PwC said the statement by the former chairman of the company B.

January 16th, 2009 CHENNAI - The government-appointed board of Satyam Computer Services Limited will have to define the scope of work for the city-based Brahmayya & Co that has been appointed as the beleaguered IT bellweather's internal auditor, an official of the accounting firm said Saturday. 'We were sounded out about the assignment by the authorities and we gave our consent.

January 13th, 2009 NEW DELHI - In a curious twist to the Satyam Computer Services fraud, its erstwhile auditors PricewaterhouseCoopers have said their opinion on the financials of the beleaguered company may be rendered 'inaccurate and unreliable'. In a letter to the new board of Satyam, the audit firm said the statement by the former chairman of the company B.

January 14th, 2009 CHENNAI - 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.

January 9th, 2009 CHENNAI - If justice has to prevail, the government should establish a prima facie case against Satyam Computer's former chairman B. Ramalinga Raju and his brother B.

February 9th, 2009 NEW DELHI - The Satyam Computer Services scam is 'just a case in isolation' and it would not affect the image of India's IT industry, a Singapore diplomat said here Tuesday. 'What happened to Satyam came as a surprise and shock, but we are pleased at the speed of the Indian government that has replaced the board with very credible and highly respected individuals,' Tommy Koh, ambassador-at-large at Singapore's ministry of foreign affairs, said.

January 15th, 2009 NEW DELHI - The newly-appointed member of the Satyam board of directors, Confederation of Indian Industry (CII) chief mentor Tarun Das, Friday said the main priority was to safeguard the interests of employees, customers and investors of the scam-tainted IT company. Minister for Corporate Affairs P.C.

February 3rd, 2009 NEW DELHI - With corporate governance and accounting norms coming under the scanner following the $1.43-billion Satyam scam, global consultancy and accounting major KPMG Wednesday announced the launch of an initiative to help Indian businesses conform to international accounting standards. KPMG's initiative - a web-based platform called the International Financial Reporting Standards (IFRS) Institute - is designed to assist various stakeholders in the planned convergence from Indian Generally Accepted Accounting Principles (GAAP) to IFRS.

January 23rd, 2009 HYDERABAD - Two officials of PricewaterhouseCoopers, the firm that audited fraud-hit Satyam Computer Services' books, were arrested Saturday for their alleged role in the irregularities. The Crime Investigation Department (CID) of the Andhra Pradesh police, probing the Rs.70 billion (Rs.7,000 crore/$1.43 billion) fraud in the IT bellwether, arrested chief relationship partner S.

January 12th, 2009 HYDERABAD - Police Tuesday conducted a raid on the Hyderabad office of PricewaterhouseCoopers (PwC), the former auditor of Satyam Computer Services, as part of the probe into the Rs.70 billion fraud by the IT bellwether. Crime Investigation Department (CID) officials said a team raided the PwC office in the upmarket Jubilee Hills and seized documents and other records.

January 8th, 2009 NEW DELHI - The government Friday announced that it has asked scam-tainted IT bellwether Satyam Computers to appoint new directors within seven days. 'The government has aked Satyam Computers to appoint new directors within next seven days,' said Prem Chand Gupta, minister for company affairs.

February 21st, 2009 HYDERABAD - Fraud-hit Satyam Computer Services Saturday decided to invite a strategic investor to keep India's fourth largest software outsourcer running, and will soon announce the details of the process it has adopted for the purpose. The decision was taken at a meeting here of the central government-appointed board of directors.

January 11th, 2009 CHENNAI - Perhaps for the first time in the Indian corporate history, an audit firm - and a foreign one at that - is being dumped midway by a company. The government-appointed new board for Satyam Computer Services has declared that the fraud-hit IT bellwether will have a new audit firm to restate the books of accounts.

February 2nd, 2009 HYDERABAD - Two suspended PriceWaterhouse employees allegedly involved in the Satyam Computer Services fraud will be in the custody of the Andhra Pradesh police Wednesday and Thursday. S. Gopalakrishnan, who was chief relationship partner at PriceWaterhouse, and Srinivas Talluri, who was engagement leader, will be handed over to the Crime Investigation Department (CID) of police for interrogation for two days from Wednesday, a Hyderabad court ruled Tuesday.

February 2nd, 2009 HYDERABAD - The Andhra Pradesh police will Wednesday and Thursday grill two suspended PriceWaterhouse employees allegedly involved in the Satyam Computer Services fraud. A city court Tuesday sent S.