Mumbai, September 29: Two top officials of Satyam Computers along with four auditors of Price Waterhouse have been found guilty by the Institute of Chartered Accountants of India (ICAI) in the Rs 7,800-crore corruption case, according to a top ICAI official.
ICAI also announced the Kolkata and Delhi branch of the audit firm – Price Waterhouse, guilty of the delinquency.
The two Satyam officials accused under the corruption case are ex-CFO V Srinivasu and senior V-P, internal audit cell, V S Prabhakara Gupta. ICAI president, Uttam Prakash Agarwal reportedly said that the director’s opinion was taken into consideration and has been certified by ICAIs disciplinary committee.
Mr Agarwal named four auditors from Price Waterhouse, Bangalore, charged under professional atrocity – S Gopalakrishnan, Srinivas Talluri, P Shiva Prasad and C H Ravindranath.
After the founder-Chairman of Hyderabad-based Satyam Computers B Ramalinga Raju confessed to falsifying the 7,800-crore accounts of his company, the firm plunged into a deep financial mess.
Satyam’s CFO, Srinivasu failed to perform the appointed duties to him while Prabhakara Gupta in successfully auditing the internal accounts of the company.
The two other accused Prasad and Ravindranath were appointed in the audit team for Satyam Computers while Talluri and Gopalakrishnan certified the balance sheet.
The circulars will be issued by the disciplinary committee to all the accused asking for their written clarifications which are to be submitted within the time frame of 30 days.
If any of the accused fails to do so within the allotted period then the apex body of chartered accountants, ICAI is liable to commence the process of personal hearing by issuing notices.
–IANS