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Satyam scam: Price Waterhouse suspends arrested partners

Auditor Price Waterhouse said it has suspended two of its partners who worked on the accounts of the scam-hit Satyam Computer.

Written by Agencies | New Delhi |
January 27, 2009 7:53:35 pm

Auditor Price Waterhouse on Tuesday said it has suspended two of its partners – S Goplakrishnan and Srinivas Talluri – who worked on the accounts of scam-hit Satyam Computer and were arrested last week.

“In light of recent allegations,S Gopalakrishnan and Srinival Talluri have been suspended of all their duties and functions as partners of Price Waterhouse,pending completion of the investigations into Satyam matter,” the global auditing major said in a statement.

The two partners were arrested late last week by Andhra Pradesh police,after which Price Waterhouse had expressed its regret over their detention and said it would continue to cooperate fully with the authorities.

“While they are suspended,neither partner will play any part in client matters. They will undertake no activities on behalf of PW and have been advised to cooperate fully with the ongoing inquiries regarding Satyam,” the company said.

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“As the investigations proceed,PW will continue to evaluate the situation,” it added.

The auditing firm had last week said,“We greatly regret that two Price Waterhouse partners have been detained today for further questioning. We do not know the basis for them being detained.” The Andhra Pradesh CID police had arrested on January 24 Gopalakrishnan,Chief Relationship Partner and Srinivas Taluri,Engagement Leader,of PW at Satyam,as part of ongoing investigations into the accounting fraud disclosed by Satyam’s founder Ramalinga Raju on January 7.

“Over the last fortnight,the firm (PW) has fully cooperated in all inquiries and has provided the documents called for by the Indian authorities.

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