Icai finds 6 guilty in Satyam fraud

Icai finds 6 guilty in Satyam fraud

Mumbai: The Institute of Chartered Accountants of India (Icai) has found two top officials of Satyam Computer Services Ltd, including its former chief financial officer (CFO) Srinavas Vadlamani, and four others guilty of misconduct in connection with the Satyam fraud, a top Icai official said on Monday.

Icai president Uttam Prakash Agarwal said that the disciplinary committee of the apex body of chartered accountants has held that Srinivas Vadlamani failed to carry out his statutory duties as CFO. Icai said Satyam’s senior vice president of internal audit cell V.S. Prabhakara Gupta failed to carry out internal audit of the firm’s accounts.

The disciplinary committee also found four auditors from Price Waterhouse— S. Gopala- krishnan, Srinivas Talluri, P. Shiva Prasad and C.H. Ravindranath—prima facie guilty of professional misconduct, Agarwal said.

Prasad and Ravindranath were part of the audit team for Satyam, while Gopalakrishnan and Talluri signed the balance sheet, he said.