Click to play videoNew Delhi: Two partners of auditors Pricewaterhouse Coopers were arrested by the Andhra CB CID on Saturday. The Andhra Pradesh police has arrested two top officials who worked on the Satyam account.
PwC's Chief Relationship Partner S Gopalakrishnan and Engagement Leader Srinivas Talluri were picked up on Friday night for questioning and are now in custody. However, the question is have they been arrested for negligence or have the auditors played a bigger role in the scam?
''Auditors can always make such claim that they relied upon the data etc. The CID police may have arrested them not only for negligence but for some other reason. The police cannot arrest an auditor only because he is simply negligent, police can only arrest him only when the Indian penal code and some sort of collusion, abetment or other involvement, '' explained President, ICAI, Ved Jain.
When asked what the future now holds for Pricewaterhouse Coopers and will the company be banned, Jain replied,"The crime is committed by human beings and the action should be in that direction."
PwC says there is no evidence of wrongdoing by the arrested partners. But the arrest also means that SEBI and Special Fraud Investigation office will not get access to them.
One round of questioning is complete and now both will now have to get court approval to continue the questioning.
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