Latest news on Satyam !!!!!!!!!

Page no : 5

(Guest)

I think yes

Rajat Bhatia (PCC Student) (203 Points)
Replied 09 January 2009

A Right & Needed Statement Given By Mr. Jain

CA NP Mathi Lingan (Practising Chartered Accountant) (98 Points)
Replied 09 January 2009

Its a shame and disgrace for our profession

navin goyal (student) (311 Points)
Replied 09 January 2009

exactly tell me wht is the issue in detail

CA Surendra (Proprietor) (265 Points)
Replied 09 January 2009

It is indeed a result of a misconduct from the PWC and henc they should be penalised for this level of carelessness. The provisions are provisions after all which should apply to all the members. So PWC should indeed be given examplary punishment by ICAI

CA Surendra (Proprietor) (265 Points)
Replied 09 January 2009

Koneri Balaji (CHARTERED ACCOUNTANT) (120 Points)
Replied 09 January 2009

It may be fraud or careless but it is true that team work and done from so many days. It is not week or fortnight work

varatharajan (Article) (22 Points)
Replied 09 January 2009

Can you cancel their (PWC Auditors) membership. Because, It is very shame to all CAs.

venkat (paid assistent) (28 Points)
Replied 09 January 2009

kill them bl**dy auditors of PWC in front of public.there is no difference between the political leaders and auditors in the soceity after this scam.

Paras (Job) (90 Points)
Replied 09 January 2009

Mr Jain Should be take Temporary steps against Pwc.If Found guilty,he Should make this incident an example for future Gen. so that Professional must know their work Properly.If CA make such careless(if Truth),he Must be give up his position.

Steps:

1) His must be banned from Practising.

2) Legal Court Action.

Abhinav Agarwal (M.Com C.A SAP Consultant) (814 Points)
Replied 09 January 2009

by this act of ICAI, other such CA's will take a lesson. they will understand that such clause is not only in the Act but can be imposed once required and applicable.

Nalam Ravindranath (78 Points)
Replied 09 January 2009

Let us not be haste in making comments and jumping at the conclusions. Let us wait till the veil is lifted completely before passing the judgements.

ashish54571 (audit) (30 Points)
Replied 09 January 2009

PWC is guilty as per clause 7 part 1 Schedule II of Chartered Accountants Act 1949 ( Amendment Act 2006 )

CA Harbinder (CA ) (1245 Points)
Replied 09 January 2009

its great...

but i don't think any damage will be done to Pwc or its CAs...

because they have world class experts and lawyers ...

the only thing which can be done is involvment of US org. SERC, which is very strict with these types of frauds.

shailesh agarwal (professional accountant) (7642 Points)
Replied 09 January 2009

Price Waterhouse says audit of Satyam in accordance with auditing standards

MUMBAI: Price Waterhouse, the statutory auditor to Satyam Computers, on Thursday said that its audit of Satyam's books were conducted in

accordance with auditing standards.

"Over the last two days, there have been media reports with regard to alleged irregularities in the accounts of Satyam Computer Services. The audits were conducted by Price Waterhouse in accordance with applicable auditing standards and were supported by appropriate audit evidence," said a statement by Price Waterhouse. "Given our obligations for client confidentiality, it is not possible for us to comment upon the alleged irregularities. Price Waterhouse will fully meet its obligations to cooperate with the regulators and others."

The role of the statutory auditor came into the picture after Satyam chairman on Wednesday admitted to inflating profit figures for the past several years.

Government officials, the Institute of Chartered Accountants of India, accounting experts have all spoken about the possibility of Price Waterhouse being pulled up in case an audit failure is detected.