Indian audit firm for Satyam soon: ICAI head
Institute of Chartered Accountants of India president Uttam Prakash Agarwal said the institute was close to appointing an Indian audit firm to certify restated accounts of Satyam Computer Services.
By MV Ramsurya, ET Bureau |
MUMBAI: Institute of Chartered Accountants of India president Uttam Prakash Agarwal on Wednesday said the institute was close to appointing an Indian audit firm to certify restated accounts of Satyam Computer Services.
"We are looking at 5-6 Indian firms and will select from amongst them," he told reporters at a press conference here. ICAI will submit the final report within two months, he said.
He also reiterated that PricewaterhouseCoopers, the statutory auditors for Satyam, can not certify the restated accounts as its role is also being probed in the Satyam financial fraud. A change in statutory auditors can be done only by shareholders at a general meeting.
"We are looking at 5-6 Indian firms and will select from amongst them," he told reporters at a press conference here. ICAI will submit the final report within two months, he said.
He also reiterated that PricewaterhouseCoopers, the statutory auditors for Satyam, can not certify the restated accounts as its role is also being probed in the Satyam financial fraud. A change in statutory auditors can be done only by shareholders at a general meeting.
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