The Institute of Chartered Accountants in India (ICAI) have found two former employees of Satyam and four Price Watherouse India auditors guilty, according to Times Now:
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Two Satyam officials found “prima facia guilty” are Ex CFO V Srinivasu and Senior Vice-President, Internal Audit Cell, V S Prabhakara Gupta. The disciplinary committee also found four auditors from Price Waterhouse, Bangalore–S Gopalakrishnan, Srinivas Talluri, P Shiva Prasad and C H Ravindranath prima facie guilty of professional misconduct, [ICAI President, Uttam Prakash] Agarwal said.
The exact repercussions of this are not clear so we’re trying to run someone down at PwC to enlighten us. Hell, if you’ve got the knowledge, please share. In the meantime, as far as we know, two of the auditors are still in jail which probably made for a less than pleasant summer vacation.
