Accounting regulator ICAI on Wednesday said it will not grant any further time to now-in-jail auditors of Satyam for furnishing reply to the showcause notice and it will proceed on the basis of available information to dispose of the case within six months.
“No more adjournment will be granted to the auditors (S Gopalakrishnan and Srinivas Talluri). On the basis of the reports available, the case will be taken forward… Within six months, I will dispose of the case,”Institute of Chartered Accountants of India President Uttam Prakash Agarwal said.
Agarwal, who was here on the occasion of institute’s 61st anniversary said, the auditors who are at present in jail in Hyderabad for their alleged involvement in the multi-crore Satyam fraud case, have been given ample time considering the law of natural justice.
The disciplinary committee of the ICAI had issued the showcause notice to the Price Waterhouse auditors, who audited the IT firm’s books, in January this year following the confessions by its founder, B Ramalinga Raju, of cooking books of accounts for several years.
The time given to them was extended thrice and the last date given to them was June 30, he said, adding that now no more time would be granted to them and the committee will proceed on the basis of the available information.
