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Satyam ex-CFO gives clean chit to PwC in fraud

MUMBAI: In a significant development, former Satyam Computer CFO
Vadlamani Srinivas has told representatives of the Institute of Chartered Accountants of India (ICAI) — the apex regulatory body for chartered accountants in India — that auditors S Gopalakrishnan and Talluri Srinivas of audit firm Price Waterhouse had no role to play in the fraud, as they were given forged documents by the company management.

Mr Srinivas admitted that the fraud at the software company, which rocked the Indian corporate world, was entirely perpetrated by former chairman B Ramalinga Raju, with the active involvement of the CFO (Mr Srinivas himself), the company’s managing director B Rama Raju and cost accountant G Ramakrishna.

Source: ET