After the Satyam saga, the auditors PwC were held responsible for the false representation of financial statements. Everybody pointed that auditors are involved in all this. I do aggree that such a big scam cannot be made possible without auditors role in it, but no 1 thought that who else where involved in it. i strictly believe that such things should be stopped before they are occured.
In case of Satyam what was Company Secretary doing? why is he not highlited by media as PwC is being done?. What was the ITO doing when Satyam filed their annual Income return? did the ITO never compared the statements which were inflated from past 7 years? When IT people raid any company they 1st check the cash balance as per books with the actual cash available. Why was satyam not being checked for.? Satyam showed the profit of 600 crores. If we consider the average rate of tax at 30%, the tax payable comes to 180 crores whereas in reality Satyam did not have money to pay off the tax. How was the tax paid then???
Qualified members who are reading this, please correct me if i m wrong
Friends, i m not taking the favour of PwC but just imagine how will someone feel when his hard earned membership will be taken away. Will the snatching of membership solve the case of Satyam. NO friends. Thank U. www.bijoyrulzz.blogspot.com
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