two more auditors in connection to the Satyam fraud.
The alleged involvement of P Shiva Prasad
and CH Ravindranath will now be investigated by the Institute of
Chartered Accountants of India (ICAI), the accounting regulator in
India.
Price Waterhouse, a member of
PricewaterhouseCoopers, has also told the ICAI that only its
Bangalore office was involved in the audit of Satyam. The firm said
that offices in Delhi and Kolkata were not auditors of the IT
company.
Suspended Price Waterhouse partners S
Gopalakrishnan and Srinivas Talluri remain in custody over their
alleged involvement in the INR7,000 ($1.44 billion) fraud.
Meanwhile, the ICAI has initiated disciplinary
proceedings against Satyam’s former chief financial officer V
Srinivas and senior vice-president of the internal audit cell VS
Prabhakara Gupta.
The ICAI has also sought court approval to
examine Satyam’s former chief financial officer as well as
Gopalakrishnan and Talluri.
