ibnlive » Business

Apr 17, 2009 at 11:31pm IST

We are victim of Satyam fraud: PWC audit firm

New Delhi: Auditing firm Price WaterHouse today sought to distance its auditors from the multi-crore rupees Satyam scam saying its partners, S Gopalkrishnan and Srinivas Talluri, were victims of the financial fraud at IT


The auditing firm was reacting to the allegation made by SFIO that the PW partners were involved in falsification of accounts of the firm.

ALLEGATIONS: SFIO has alleged that the two PWC partners were guilty of account falsification.

"The two Satyam audit partners and PW India were victims of that fraud," Price Waterhouse told PTI in reply to a query.

The firm said it has not come across any evidence of criminal wrongdoing while the "fraud perpetrated by Raju and his cohorts was designed to circumvent PW India's audit process."

The SFIO had submitted to the government a voluminous report running into over 14,000 pages, wherein it has alleged that the two (Gopalakrishnan and Srinivas) were guilty of account falsification.

In its report, SFIO also alleged that Price Waterhouse auditors maintained a studied silence despite about the failure of the IT firm's audit system in 2007.

The firm has already dissociated itself from the two partners, who were arrested by Andhra Pradesh police and have been chargesheeted by the CBI.