This is some more background information on the Satyam-PwC story.

March 6th, 2009 Post-Satyam scam, PWC India to set up advisory board

CHENNAI - Global audit firm PricewaterhouseCoopers (PwC) is cleaning up its Indian stables in the wake of the accounting scandal in Satyam Computer Services.

According to a statement by the firm, an advisory board is being set up to provide guidance to the PwC leadership on its strategy and actions.


This comes after two of its partners were in the dock for the corporate fraud at Satyam Computer Services, the board of the software company gave it the sack notice and it was indicted by the Institute of Chartered Accountants of India (ICAI) for the scam.

‘PwC’s global network fully supports the steps taken by the leadership of our member firm in India,’ Samuel A. DiPiazza Jr., CEO of PricewaterhouseCoopers International, was quoted as saying in the statement Thursday.

Wed-Jan 14, 2009, Hyderabad/Mumbai / Press Trust of India
Satyam ropes in KPMG, Deloitte; PwC says audit unreliable

Satyam’s new board on Wednesday roped in two global auditing majors KPMG and Deloitte to restate its financials, even as Price Waterhouse said its audit of the IT company’s account could be construed as ‘unreliable’ in the wake of Ramalinga Raju’s admittance to fraud.