CAs' panel to table Satyam report July 9

CAs' panel to table Satyam report July 9

Monday, 29 June 2009, 02:14 Hrs   |    1 Comments
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Kolkata: The high-powered committee set up by the Institute of Chartered Accountants of India (ICAI) to probe the multi-crore Satyam Computer fraud would submit its report July 9.

"We will submit the report to the ministry of corporate affairs on July 9 after we finalise it at the final internal meeting of the committee on July 4 in Agra," ICAI president U.P. Agarwal told reporters on the sidelines of a function here Sunday.

ICAI is the apex organisations of chartered accountants.

Agarwal heads the seven-member committee that is looking into the financial reporting, accounting and auditing aspects of the Satyam scam. It will review the shortcomings and recommend measures for plugging loopholes against such frauds.

"We want chartered accountants to be empowered so that they can force the management to change the company's accounting practices if they think this was required."

Agarwal, however, refused to get into details of the report.
Source: IANS
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Reader's comments(1)
1: This is a good step, all the records of Satyam must be re- audited to get a clear picture of the fraud.
Posted by:Shamita - 28 Jun, 2009