PriceWaterhouse on Wednesday said its Bangalore unit audited the accounts of scam-hit Satyam Computer and was now cooperating with a probe by regulator SEBI, thus quashing reports that it was distancing itself from the multi-crore accounting fraud.
“Satyam Computer Services was audited by Price Waterhouse Bangalore,” the global auditing firm said in an e-mail issued by them.
There were media reports that accounts of scam-tainted Satyam were not audited by Price Waterhouse but by another firm Lovelock & Lewis on its behalf. It was also pointed out that Price Waterhouse might come out clean, while Lovelock Lewis might face the charges in the case.
However, without distancing itself from whole Satyam episode, the global consultancy firm said, “We have been engaged in discussions with SEBI…and continue to cooperate with its ongoing inquiry.”
When asked if there were any proposals from the regulator to ban the firm from auditing listed Indian companies it said that at this juncture, we are not aware that SEBI has reached any conclusions with respect to investigation into Satyam.”
