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

This big fraud cannot happen without auditor's knowledge. They were paid three times fees of the normal charges. All are corrupt. If at all it is proved that auditor's were unaware of this fraud then it is better that concept of financial audit itself to be removed. Better we will accept what management gives, as it is. Atleast we will be alert, rather than believing the auditors.

I THINK THE BEST SOLUTION IS THAT THE AUDITS OF LISTED COMPANIES BE ALLOTED BY CENTRAL GOVERNEMNT OR SEBI OR C & AG LIKE PSU AUDITS .....THIS WILL ENSURE INDEPENDENCE OF AUDITORS .

YOUR OPINION PLEASE

 i fully agree with mr-ca-sampat jain

nice to be cool

gov appointed 3 directors for satayam

thanks to mr. ved. it is very serious problem. this type of negligency all community of ca bad effect.

sampat sir suggestion is a nice one

 This should not be a usual warning statement.

It's create Bad Image for INDIAINC.

pwc  should be blamed if guilty found

well i think to avoid other satyam, ICAI should amend AAS-1, AAS-2, AAS-4.

THE WORD INDEPENDENT SHOULD BE MORE CLEAR. AS PER AAS-2, THE AUDITOR STATEMENT IS JUST AN EXPRESION OF OPINION. THESE THINGS MAKE AUDITOR FEEL FREE AND IN THE COURSE OF IT THEY COMMIT MISTAKES. DONT YOU THINK SO.

 KPMG, Deloitte appointed statutory auditors for Satyam

MUMBAI: Deloitte Haskins & Sells and KPMG, both part of the Big Four accounting firms, have been appointed as joint statutory auditors for Satyam Computer Services.



The newly-constituted three member board of Satyam had earlier said that it would appoint new joint auditors to audit the accounts of Satyam, following the software company's former chairman B Ramalinga Raju's admission of having forged the books over the past seven years.



When contacted, both Deloitte and KPMG declined to comment on the issue. Sources in the Institute of Chartered Accountants of India, the apex body for accountants in the country, had earlier said that the new board had been wanting to appoint firms from the Big Four - Price Waterhouse, the earlier auditor of Satyam is also part of the Big Four - as the new auditor. Ernst & Young is the other firm in the four member premier league of global accounting firms.

Strict actions must be taken by ICAI against auditors after investigation,if found guilty, so that such things not happen in future.