The Securities and Exchange Board of India (SEBI) has barred auditor major Price Waterhouse's network entities from issuing audit certificates to any listed company in India for two years after finding it guilty in the multi-crore Satyam scam. 

It also ordered disgorgement of over 13 crore rupees wrongful gains from the audit major and it's two erstwhile partners who worked on the IT major's accounts.The market regulator's order comes nearly nine years after the scam at Satyam Computer Services surfaced and after two failed attempts by Price Waterhouse to settle the case through consent mechanism. 

This is also one of the most stringent orders passed by any regulator against a Big Four audit major.

No Comments For This Post, Be first to write a Comment.
Leave a Comment
Enter the code shown:

Can't read the image? click here to refresh

Todays Epaper

Who will win the Men's Hockey World Cup 2018?