SATYAM SCAM...what action ICAI will take?

In my opinion, if chairman of a compnay wants to hide somethins, even CAs can not check it.

CAs are checking when shown to them

 i think the ca must not blindly rely on management statements,they can qualify there report if there doubts are not cleared,but surely there is more biggger picture to this scam,alone ramalingam raju can't do all this,there are more hands in the fraud because everything from cash balance,bank balance,debtors,creditore n also false accrued interest were involved.

let the report come.......

i agree with rashmi

it is not possible to do a such a big fraud without the  help of middle level and other senior level management.

He is trying to save all other persons except him from such fraud as he mentioned in their letter

Sorry for  saying these words in this issue

the documents  given to CA is to be checked by himself  whether these documents have appropriate evidence or not.

we can' t say like our hands are restricted within the norms provided by the statutory authorities

We, as chartered accountants should use our experience and knowledge to secure the interest  of  shareholders. 

I think our financial analysis is some what should be changed because since ten years 'SATYAM' raju has provided us cooked financial statements and we relied onthese and made our so called financial analysis by calculating EPS ....etc.,   By these changes i got a view to find the real intent and content of the companies.  we can't gamble our money by relying by the financial statements alone. 

May be i was wrong in my view , if any fellow members clarify my confusion regarding these analysis and making the investment in these companies.

i am not blaming Raju or PWC., my doubt is how can a ordinary man depend on these technical and fundamental analysis.

I even respect the hardwork and dedication of Mr. Raju., who focussed his attention and commitment  towards the company for nearly 20 years even though he commited the blunders in the aspect of shareholders.

please clarify in this regard.