ICAI gets nod to probe Satyam auditors

The Delhi High Court on Monday allowed the Institute of Chartered Accountants of India (ICAI) to go ahead with disciplinary proceedings against the two PricewaterhouseCooper auditors who are facing legal cases for their alleged involvement in the infamous Satyam accounting fraud. Dismissing the plea made by the auditors S Gopalakrishnan and S Talluri, the High Court asked ICAI to continue with disciplinary proceedings independent of the criminal case (s) pending against them in the court. An ICAI press release said that the apex auditing regulator and standard setting body would try to conclude these cases in a fast track mode. - www.business-standard.com