KPMG and Deloitte replace Price Waterhouse Coopers as auditing firms for Satyam Computers
January, 15th 2009
The newly appointed Board of Directors of Satyam Computer has appointed auditing firms KPMG and Deloitte to assist in the restatement of financial statements of the company.Satyam board member C Achuthan said in Mumbai that both accounting firms have been asked to restate the accounts of the company as quickly as possible.
Meanwhile,the Securities Exchange Board of India (SEBI) has said that the Andhra Pradesh state police have posed hurdles in their probe into the Satyam Computers fraud. Speaking to reporters in Hyderabad, the SEBI counsel Pradyumna Kumar Reddy said that their investigations were delayed by the state CID. SEBI's petition to allow it to record Satyam former Chairman Ramalinga Raju has also been deferred by a city court for tomorrow.