Hyderabad: Riding on the efforts of the board constituted by the government to restore stakeholder confidence, Satyam Computer Services Ltd said it has won new orders worth $250-million since 7 January — the day B. Ramalinga Raju confessed to a Rs7,136 crore fraud—the firm announced on Saturday after the 10th meeting of its new board.
The board has also recommended the ministry of corporate affairs to remove Price Waterhouse as the firm’s statutory auditors and notified the same to the auditors. However, Nandini Chatterjee, associate director, communications of PricewaterhouseCoopers, said the firm had already resigned as statutory auditors of Satyam effective 12 February.
CAG changes format of certifying govt accounts
New Delhi: The comptroller and auditor general (CAG), has changed the format of certifying the Union government’s accounts, under which it would stop the practice of giving clean chits by describing them as “correct statements of receipts and disbursements”.
Instead of certifying government accounts as “correct”, CAG is now saying that its responsibility is to express an opinion on these accounts based on its audit. “These accounts are the responsibility of controller general of accounts and the secretary to the government of India, ministry of finance, department of expenditure. Our responsibility is to express an opinion on these accounts based on our audit,” reads a statement issued by CAG.