PracticeAuditIndian auditors asked to present signed-off accounts again

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.

Further reading:

Satyam
picks KPMG for clean-up job

Satyam
replaces troubled chief executive

Related Articles

Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

7d Emma Smith, Managing Editor
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter
PwC pay gap review finds “no evidence of gender bias” at BBC

Audit PwC pay gap review finds “no evidence of gender bias” at BBC

4m Alia Shoaib, Reporter
Carillion collapse: FRC to investigate KPMG over audit work

Audit Carillion collapse: FRC to investigate KPMG over audit work

4m Alia Shoaib, Reporter
PwC’s slapped with 2 year audit ban in India

Audit PwC’s slapped with 2 year audit ban in India

4m Alia Shoaib, Reporter
PwC found negligent by US judge over Colonial Bank's $2bn fraud

Audit PwC found negligent by US judge over Colonial Bank's $2bn fraud

5m Alia Shoaib, Reporter
KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

7m Emma Smith, Managing Editor