An Institute of Chartered
Accountants in India (ICAI) committee has recommended strict
disciplinary action against four Hyderabad-based audit firms for
their alleged involvement in the Satyam fraud.

The firms are: Krishna & Prasad, Rao &
Shyam, P Viswanath & Associates and GMK Associates.

Investigations into a Price-waterhouseCoopers
affiliate, which audited Satyam, have been underway for almost a
year.

The ICAI committee report, which is now being
considered by the ICAI council, said the firms audited the books of
companies that lent money to Satyam.