PW suspends two who handled Satyam,its audit head steps down

Talluri signed Satyam’s 2007-08 annual report on behalf of Price Waterhouse,that has been the software company’s statutory auditor for the last six years.

Gopalakrishnan had been signing the books the previous years. The two were suspended of all their current duties and functions as partners of Price Waterhouse and barred from participating in any client matters of the firm. The two,however,remain on the firm’s payroll.

Further,Price Waterhouse’s all-India audit head or Assurance Leader Thomas Mathew also stepped down from his role with immediate effect even as the firm said he had no connection with the Satyam audit. “In the present situation,he believes it would be appropriate for him to relinquish his management position,” a statement from the firm said.

While Mathew will remain a PW partner,the firm appointed Kaushik Dutta as the new Assurance Leader. Price Waterhouse said the two partners have been advised to cooperate with the probe.