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Why such stringent actions against satyam auditors???

Go green (ICAI) (666 Points)

11 December 2011

I don't quite understand why Ravindranath and Sivaprasad have been awarded such stringent action by ICAI. Their membership is cancelled lifelong and with a further fine of Rs. 5 lacs. Ravindranath and Sivaprasad are only employees but not partners of the audit firm who were auditors of Satyam.

Please give your views in this regard.

Thanks

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2 Replies

CA Sandeep Kumar (Audit Assistant) (804 Points)
Replied 12 December 2011

Hi, how did u get the information?

If its true, they derserve such punishment.

ICAI would have conducted a thorough enquiry before punishing. They might be employees but they did work, their work would have been relied upon by senior engagement partners. We cannot expect the senior partners to go into minute details of audit, but they have to rely upon work of their audit assistants. Please upload some more details if you have about the satyam enquiry.

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CA Himanshu Bansal (Risk Manager) (2345 Points)
Replied 13 December 2011

Originally posted by : sunny pursuing CA , CS
	Hi, how did u get the information? If its true, they derserve such punishment. ICAI would have conducted a thorough enquiry before punishing. They might be employees but they did work, their work would have been relied upon by senior engagement partners. We cannot expect the senior partners to go into minute details of audit, but they have to rely upon work of their audit assistants. Please upload some more details if you have about the satyam enquiry.