Business Daily from THE HINDU group of publications
Thursday, Feb 12, 2009
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Business Daily from THE HINDU group of publications Thursday, Feb 12, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Info-Tech
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Accounting Standards
Our Bureau Mumbai, Feb. 11 The Institute of Chartered Accountants of India on Wednesday said it has decided to move to court to ask for permission to interrogate Mr B. Ramalinga Raju and other persons associated with the financial scandal at Satyam Computer Services. ICAI would also seek permission to interrogate Satyam’s erstwhile Chief Financial Officer, Mr Uttam Prakash Agarwal, President - ICAI, said at a press conference here. Mr Agarwal is also the Chairman of the High-Powered Committee of the institute which was supposed to investigate the Satyam scam from the audit standpoint and submit its report on Wednesday; its report is of an interim nature only as the restatement of accounts of Satyam is in progress. The committee is still working on the matter and will submit its final report in March, said Mr Agarwal. The ICAI will wait for the restated figures to file the probe-report on Satyam Computer Services Ltd, Mr Agarwal said. The committee, during its enquiry, has met with officials at the Ministry of Corporate Affairs and SEBI. The ICAI President also told reporters that the Government-appointed Satyam Board has suggested that only a chartered accountant firm registered under the ICAI would be considered for restatement of the financials of Satyam Computer. Around ten firms have been shortlisted for this, he added. More Stories on : Accounting Standards | Auditing | Satyam Computer Services Ltd
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