Thursday, March 28

Tag: satyam fraud

No Intentional Wrongdoing in Satyam fraud: Price Waterhouse
News

No Intentional Wrongdoing in Satyam fraud: Price Waterhouse

Price Waterhouse today said there has been no intentional wrongdoing by its firms in the Satyam case and expressed confidence of getting a stay on the Sebi order. The audit major also said it has learnt the lessons from Satyam case and invested heavily over the last nine years in building a robust and high quality audit practice. Finding Price Waterhouse guilty in the multi-crore Satyam scam, Sebi has barred its network entities from issuing audit certificates to any listed company in India for two years. Besides, the watchdog has ordered disgorgement of over Rs 13 crore wrongful gains by the audit major and its two erstwhile partners who worked on the IT major's accounts. "As we have said since 2009, there has been no intentional wrongdoing by PW firms in the unprecedented man...