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Income tax case: ICAI denies violations of various provisions; exemption issue pending before DG

THE Institute of Chartered Accountants of India ( ICAI ) has clarified that accounts of the Institute were duly audited and signed by the auditors, and after adoption by the Institute, the same were published in the Gazette of India as well as circulated among its members and filed with the Income Tax authorities as […]...

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Posted Under: CA, CS, CMA |

Controversial Satyam auditor stays in council of ICAI

Just when The Institute of Chartered Accountants of India (ICAI) probes allegations of fraud against auditors of Pricewaterhouse in the Satyam and Global Trust Bank (GTB) cases, an auditor from the firm who was part of both the audits continues to sit on the all-important council of the accounting regulator, raising many eyebrows....

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Posted Under: CA, CS, CMA |

Deloitte & KPMG appointed Satyam auditors in Place of PWC

HYDERABAD: Fraud-hit Satyam Computer Services Ltd’s new board has appointed KPMG and Deloitte as the company’s new auditors, replacing PricewaterhouseCoopers, two newly appointed members of the board said on Wednesday.”Yes, they have been appointed,” said Deepak Parekh....

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Posted Under: CA, CS, CMA |

Government Appoints first 3 member of the Satyam Board

Indian Government which dissolved the whole satyam board not sure if its to safeguard Satyam Computers or the Satyam involved in the Satyam Computer services fraud.It informed that they have appointed the first 3 members of the 10 Member board and its appointed by the Ministry of Corporate Affairs.They will first form the Board of [&helli...

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Posted Under: CA, CS, CMA |

CBDT investigation into Satyam Computer Services

When it rains, it pours. The Central Board of Direct Taxes (CBDT) has launched an investigation into Satyam Computer Services, joining a growing list of authorities investigating the company whose fate hangs in the balance following an admission of financial irregularities by its founder-chairman....

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Posted Under: CA, CS, CMA |

Price Waterhouse says audit of Satyam in accordance with auditing standards

Price Waterhouse, the statutory auditor to Satyam Computers, on Thursday said that their audits of Satyam’s books were conducted in accordance with auditing standards. “Over the last two days, there have been media reports with regard to alleged irregularities in the accounts of Satyam Computer Services. The audits were conducted ...

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Posted Under: CA, CS, CMA |

Govt orders probe into 8 cos promoted by Raju

The government on Thursday ordered a probe into all the eight companies promoted by Ramalinga Raju, the former chairman of Satyam Computer Services. Raju had on Wednesday admitted to cooking up books of Satyam, India’s tier one IT services company.Hyderabad. Declining to give a direct answer on the possibility of appointing governme...

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Posted Under: CA, CS, CMA |

Satyam chairman arrested, board scrapped

The chairman of Satyam Computer Services was arrested on Friday on charges of cheating and forgery, and the government dissolved the outsourcer’s board as authorities moved to limit fallout from India’s biggest corporate scandal....

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Posted Under: CA, CS, CMA |

PWC involved in Satyam,GTB & DSQ Software-TOI

The Satyam fraud is not the sole brush with infamy for Pricewaterhouse, one of the world’s top auditing firms. Pricewaterhouse is already in deep trouble in relation to its suspect auditing of the collapsed Global Trust Bank, for which it is being probed by the disciplinary committee of the Institute of Chartered Accountants of Indi...

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Posted Under: CA, CS, CMA |

CAs could be barred for lifetime, if found guilty, says ICAI

Apex chartered accountants institute ICAI has so far barred CAs from practising for a maximum of five years in 41 cases, but may ban those involved in auditing Satyam books for life, if found guilty. “We have written to the disciplinary committee of ICAI. If found guilty, CAs involved in Satyam Computer’s auditing could be [&h...

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Posted Under: CA, CS, CMA |