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Satyam case: ICAI to interrogate two auditors on April 5

April 03, 2009 18:57 IST
Last Updated: April 03, 2009 19:41 IST

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Accounting regulator ICAI said on Friday it will interrogate on April 5 two sacked auditors of PricewaterhouseCoopers -- S Gopalakrishnan and Srinivas Talluri -- in connection with the multi-crore Satyam [Get Quote] financial scam case.

"We have got the permission from the court three-four days back and we are going to interrogate the auditors on April 5," ICAI president Uttam Prakash Agarwal told reporters.

The ICAI president said that the auditors would be interrogated mainly on accounting and auditing aspects and to check whether they followed the right methods of accounting.

The Institute of Chartered Accountants of India has obtained permission from a local court to interrogate the two auditors and examine and record their statements.

ICAI counsel G Gopalakrishna Murthy had told the XIV additional chief metropolitan magistrate hearing the Satyam case that the professional body wanted to find if there was any misconduct on the part two sacked auditors of PricewaterhouseCoopers S Gopalakrishnan and Srinivas Talluri in the multi-crore Satyam fraud case.

The two auditors had vetted the books of Satyam.

As per the Chartered Accountants Act, ICAI can regulate the profession of chartered accountants and also take disciplinary action against erring auditors.

Besides, the Committee also suggested a separate panel for interpretation of the accounting standards, which the ICAI said is already in place for some time.

The Independent Interpretation Committee, however, has been dispensed with due to some legal issues raised by the government, but the ICAI assured that the committee can again start functioning after these issues are addressed.

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