ICAI against giving adjournment for Sathyam auditors -Governance Now

ICAI against giving adjournment for Sathyam auditors

Committee investigating the auditors was not in favour of giving any adjournment

PTI | July 12, 2011

Institute of Chartered Accountants of India (ICAI) was against giving any adjournment to auditors accused in the multi-crore accounting scam case in Satyam Computers, a top official of the ICAI said in Coimbatore on Sunday.

ICAI president G Ramaswamy, who is in Hyderabad in connection with the case, told PTI that the committee which was conducting investigation against the auditors was not in favour of giving any adjournent to the auditors in the case, as sought by one of the auditors Talluri Srinivasan.

Ramaswamy, who is presiding the committee, said that 12 of the 15 witnesses have already been examined and asked them to provide entire documents, with regard to the case.

When his reaction was sought on the arrest of a Chartered Accountant U A Pai in Mumbai for allegedly accepting bribe money meant for an Income tax commissioner, he said that the Institute had sought for details, including the activities of Pai. A detailed report was expected tomorrow, Ramaswamy said.

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