Former Satyam CFO and PW auditors found guilty

Hyderabad, Sept 29 :

The two top officials of Satyam Computers and the four auditors Price Waterhouse Bangalore  were held  responsible  for the  Rs 7,800-crore fraud case, according to an official  Institute of Chartered Accountants of India ( ICAI) official said on Monday.

The ICAI has also found audit firms — Price Waterhouse, Kolkata and Price Waterhouse, New Delhi — prima facie guilty of misconduct. ICAI president, Uttam Prakash Agarwal  interacting with the media  said “The director observed the  two officials of Satyam Computer, Price Waterhouse and its four auditors prima facie guilty of professional misconduct in the Satyam case.”

The  two Satyam officials found “prima facia guilty” are ex-CFO V. Srinivas and senior V-P, internal audit cell, V.S. Prabhakara Gupta while the four auditors of Price Waterhouse, Bangalore — S. Gopalakrishnan, Srinivas Talluri, P. Shiva Prasad and C.H. Ravindranath prima facie guilty of professional misconduct. As  reported  earlier the  Hyderabad-based Satyam Computer plunged into  darkness  after  it  has been established  that there  was  a scam to the tune of Rs 7,800-crore.