INDIAN ACCOUNTANTS BARRED FROM PRACTISING FOR LIFE OVER SATYAM SCANDAL
November 1st, 2011
BY KEITH NUTHALL and RAGHAVENDRA VERMA
THE INSTITUTE of Chartered Accountants of India (ICAI) has barred two Indian auditors from practising as chartered accountants for their role in the USD1 billion Satyam Computer Services scandal. The institute announced yesterday that Pulavarthi Siva Prasad and Chintapatla Ravindernath had been found culpable of "serious gross negligence...in the discharge of their duties as audit team members" for Satyam statutory audits staged between April 2001 and September 2008. Illicitly inflated profits from crooked books ...
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