Indian auditors asked to present signed-off accounts again
Worried Indian companies want detailed presentations of verified accounts to avoid Satyam-style problems
Indian companies have started asking auditors for detailed presentations of
accounts they have already signed off, in the wake of the Satyam fraud.
Nervous businesses are looking for reassurance that verified accounts hold no
nasty surprises after the alleged $1bn (£700m) fraud at the Indian IT
outsourcing giant, which had already had its accounts approved by
PricewaterhouseCoopers.
The move by management to delve back into the books has so far been
restricted to a few Indian companies, but the practice is spreading, according
to Telegraph India.
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