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Why such stringent actions against satyam auditors???

Others 850 views 2 replies

Go green

ICAI

666 Points Posted on 11 December 2011

I don't quite understand why Ravindranath and Sivaprasad have been awarded such stringent action by ICAI. Their membership is cancelled lifelong and with a further fine of Rs. 5 lacs. Ravindranath and Sivaprasad are only employees but not partners of the audit firm who were auditors of Satyam.

Please give your views in this regard.

Thanks

Replies (2)

CA Sandeep Kumar

Audit Assistant

804 Points Posted on 12 December 2011

Hi, how did u get the information?

If its true, they derserve such punishment.

ICAI would have conducted a thorough enquiry before punishing. They might be employees but they did work, their work would have been relied upon by senior engagement partners. We cannot expect the senior partners to go into minute details of audit, but they have to rely upon work of their audit assistants. Please upload some more details if you have about the satyam enquiry.

CA Himanshu Bansal

Risk Manager

2345 Points Posted on 13 December 2011

Originally posted by : sunny pursuing CA , CS
	Hi, how did u get the information? If its true, they derserve such punishment. ICAI would have conducted a thorough enquiry before punishing. They might be employees but they did work, their work would have been relied upon by senior engagement partners. We cannot expect the senior partners to go into minute details of audit, but they have to rely upon work of their audit assistants. Please upload some more details if you have about the satyam enquiry.