Hey Aravind, the news item here gave me the impression that PwC LLP were the appointed auditors.
See the quotes - “The actual statutory audit of Satyam was in fact conducted by a firm called L&L and not by PwC, who was appointed by the investors during the AGM,”
"Earlier in June 2009, Ramesh Rajan, Chairman and CEO, PwC India, too informed CBI regarding the acquisition made by PwC and that partners of L&L weren’t authorised to sign on behalf of PwC."
- my impression on reading was that PwC had a valid appointment and were the actual auditors.
Thanks for clearing that it was L&L who were statutory auditors.
Then the CBI are correct, like u pointed out.
But my point is still correct that employees of a firm cannot sign the balance sheet on its behalf. Were not they aware of that being CAs themselves?
I think they are finding scapegoats by bringing out skeletons from the closet...... Mr.Gopalakrishnan is anyway going down in the GTB scam.... They are piling it on him i feel. The scam had only started then in 2001.. Was it not 10 crores or something with which the fudging started? What about the 2 billion dollar scam that came out in 2008? Surely a title to the news like "CBI gives PwC clean chit" is very misleading and they are making max mileage out of it...