The fact inspite of all is yesterday morning when the shares of satyam was on hike.i.e on Rs 188 something.

I had sold my whole stoke at that time. and literally when i came after lunch i got the NEWS...

I am REALLY thankful to my GOD..

Lets Wait and Watch to know whos the real Hero in this show

PWC is an international audit firm. It follows international best practices to do the audit. It appoints only brilliant staff for conducting the audit. Also it obtains all the statements, documents and papers from the audittee and finally gives the audit report as per ICAI's format including the phrase that "these financial statements are the responsibility of the company's management". So PWC is not wrong. The people with jealous mind are blaming the audit firm. Please stop this attrocity.

PWC,could not be held responsible for various reasons.

hello what will happen next satayam? who is the main party off this story? who is the hero and whi will become a villion.................. all the depend on satyaaaaaaaaaaaaaaam

 Satyam scam: Auditors in the line of fire

 Good sensible comment by dashrath

u can never justify any act.. or take any side.. a thing has happened at  the ICAI has rightfully done by marking PWC... they surely are one of the best as they were so good at it that they got carried away... whats more husrting is that all the auditors are put on fir in FM channels as this comes after the US fiasco... the gov't should punish the perpetrators in such a manner that it does not repeat... the blame game will go on for some more time  and every one will forget about it as rightfully put by some one before me...

yes PWC is respnsible

i personally believe that...

either this entire issue is very big and sinster(something different that what it is now) than it is really looking or it is a small issue and blown out of proportion !!! because :

1. how can a Auditors like PWC be negligent in areas like cash/bank which is most detectable.

2. how can a promoter/founder resign from a company that he himself has created (after all this is india)

3. and if it is true how can this be going on for years - unnoticed

4. the company has won so many corporate governance awards...if this fraud is true than all the awards are all waste and entire system of credit ratings and all is garbage !!!

5. the company is no joke...it has such strong base and employees

i am agree with pratik--------------they are using the weakness of company law---investors have no control on directors --------so they use the money as they wish--------and others helps them-------in doing so-------this is realty--------we all know------but who cares----all------the------------------------------------system is corrept-------------------this is not----the------first time----------------every time-------invester-suffers?---------directors and chairpersons----enjoy-------------------the wealth of public--------------

WHERE--------IS----------SPIDERMAN---------WHERE HIS-SIXTH-SENCE---------PLEASE--------------COME---------SND SAVE------------------------------?

Every guilty person should be penalised.

honerable Minister of Corporate Affairs Mr. Prem Chand Gupta is useless chap....... good for nothing......afraid of taking action.....huhhhh!!!!!!

As I see it, and I keep discussing this with my friends and colleagues,  there are some fundamentals which have been going wrong for a long time and I daresay that all of us are responsible as a society.  The huge premium and reward that we attach to material success is completely misplaced. Business is not just about making money ; by laying too much emphasis on the bottom line performance and how a balance sheet looks, we implicitly drive people to give disproportionate importance to the business of money making. In most of the companies, accountants (who should actually act as watch dogs) manipulate and play with numbers are eulogised and promoted. We overlook the fact they are in fact compromising on business ethics.  No amount of regulations or tight rules will be of any help if the man is not taught or encouraged to listen to and act by his conscience. I am sorry to say this, but few accountants are normally thought of as trust-worthy professionals in true sense. We need to change our perspective about money, about our prioriorities in life and how we want to influence the future generations. 

If this is how a minority-held promoter-led company fares, it is scary to think about other such companies and what they have in their cupboards!