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PriceWaterhouse ‘disappointed’ with CBI charges against its auditors

Piqued at CBI’s chargesheeting of its auditors S Gopalkrishnan and Talluri Srinivas,PriceWaterhouse (India) today issued a formal statement claiming it.....

Written by ENS Economic Bureau | New Delhi |
April 7, 2009 11:59:55 pm

Piqued at CBI’s chargesheeting of its auditors S Gopalkrishnan and Talluri Srinivas,PriceWaterhouse (India) today issued a formal statement claiming it “is surprised and disappointed” at the charges. The CBI today filed a chargesheet in the designated court in Hyderabad after a six-week long probe into the Satyam scam case.

PW India went on to emphasise that the Institute of Chartered Accountant of India (ICAI) had recently confirmed that Satyam’s former chief financial officer had given the clean chit to the two PW auditors saying they weren’t involved in the scam. “We too have not come across any evidence of criminal wrongdoing on the part of either partner,and both partners continue to vigorously deny any wrongdoing,” PW added. Satyam’s ex-CFO Srinivas Vadlamani had recently told representatives from ICAI that the PW auditors were simply working with the documents provided to them by the company’s management.

Justifying its position on the Satyam case,PW said,“The fraud perpetrated by Mr Raju and his cohorts was designed to and did circumvent PW India’s audit process; the two Satyam audit partners — and PW India — were victims of that fraud.” PW had suspended both Gopalakrishnan and Talluri in January when the case first surfaced in January. Gopalakrishnan has since retired from the firm and Talluri remains suspended,pending resolution of the Satyam investigations,the notice said.

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First published on: 07-04-2009 at 11:59:55 pm

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