Satyam internal audit scope to be agreed upon: Brahmayya & Co

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.

March 5th, 2009 CHENNAI - Global audit firm PricewaterhouseCoopers (PwC) is cleaning up its Indian stables in the wake of the accounting scandal in Satyam Computer Services. According to a statement by the firm, an advisory board is being set up to provide guidance to the PwC leadership on its strategy and actions.

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.

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 7th, 2009 NEW DELHI - Accusing oil companies of committing a Satyam Computers-like financial fraud, striking truckers Thursday demanded 'thorough audit' of the oil firms and asked the government to issue a white paper on the matter. 'The government should come up with a white paper and there should be a thorough audit and investigation into the accounts of the oil companies.

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.

September 11th, 2009 CANBERA - Mahindra Satyam has pulled out of a $75 million software development project that the disgraced Satyam founder had promised to set up in Australia's Geelong city, media reports said Friday. Sujit Baksi, the company's president of corporate affairs, formally conveyed the decision to the government of Victoria state through a letter addressed to provincial IT Minister John Lenders, the Australian daily reported.

January 16th, 2009 HYDERABAD - The government-appointed board of directors of the fraud-hit Satyam Computer Services Saturday said it was engaged in discussions with banks and financial institutions to address the issue of liquidity and assured that it would take all steps to pay salaries of the employees on time. The board, which met here for the second time in six days, left the appointment of the board chairman to the government and said the search for a chief executive officer (CEO) and chief financial officer (CFO) was still on.

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.

September 11th, 2009 MELBOURNE - Mahindra Satyam has pulled out of a 75 million dollars software development project at Deakin University that was set to create 2000 jobs in Geelong, Victoria. The company's president of corporate affairs, Sujit Baksi, informed the state government of its intention in a letter to IT minister John Lenders.

December 27th, 2008 BANGALORE - Beleaguered Satyam Computer Services postponed its board meeting, convened Monday (Dec 29) to discuss a proposal for buy-back of shares by promoters, to Jan 10, the IT bellwether said Sunday. 'The next meeting of board of directors has been rescheduled to January 10, 2009, in order to allow the board members to consider additional options,' the Hyderabad-based company said in a statement.

January 9th, 2009 NEW DELHI - Indian companies have started to review and document their risk management policies and practices to check corporate fraud in the wake of the Rs.70 billion Satyam Computer Services scam, a survey by an industry lobby says. A quick analysis by the Associated Chambers of Commerce and Industry of India (Assocham) with feedback of over 400 leading corporates, said that to deter possible corporate frauds, companies have commenced re-codifying their risk management policies.

January 7th, 2009 NEW DELHI - The Bharatiya Janata Party (BJP) and the Communist Party of India-Marxist (CPI-M) Thursday urged the government to take strong and immediate action against those behind the financial fraud at leading IT firm Satyam Computers. The two parties described the over Rs.70 billion (Rs.7,000 crore) scam as the biggest corporate fraud in the country and said the entire episode raised serious concerns about the very legitimacy of Indian market.

May 4th, 2009 MELBOURNE - Twitter, the micro-blogging service, suffered another hole in its security after a French computer hacker got into its internal system and accessed accounts including that of US President Barack Obama. The hacker, posing as "Hacker Croll", uploaded a string of screenshots showing his access to the internal website settings.

May 6th, 2009 Audit: air traffic systems vulnerable to attackWASHINGTON — The nation's air traffic control systems are vulnerable to cyber attacks, and support systems have been breached in recent months allowing hackers access to personnel records and network servers, according to a government audit. The Transportation Department's inspector general concluded that although most of the attacks disrupted only support systems, they could spread to the operational systems that control communications, surveillance and flight information used to separate aircraft.