(Image source from: Bloombergquint.com)
Two Years Ban For Price Waterhouse In Satyam Case:- Sebi, the market regulator in the country on Wednesday revealed the decision of banning Price Waterhouse network which is said to be the largest global auditing firm. Price Waterhouse has been engaged in the audit work of Satyam and they are said to have played a crucial role in the scam that took place in Satyam during 2009. Sebi said that no one should engage in the audit work with Price Waterhouse for the next couple of years starting from April 2018.
(Video Source: BloombergQuint)
Price Waterhouse is said to have been a part of Rs 8000 crore scam in Satyam and two former PW partners, S Gopalakrishnan and Srinivas Talluri too have been barred. These chartered accountants have been completely responsible for auditing Satyam during the crucial time at which the fraud has been revealed. Price Waterhouse Network issued a statement that they have been disappointed with the decision of Sebi and the company said that they had nothing to do intentionally wrong in Satyam fraud.