Comments on “Police probe Satyam over $1bn blackhole” • The Register

Comments on: Police probe Satyam over $1bn blackhole

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quote from Satyam website #

By Fredd Posted Friday 9th January 2009 17:26 GMT

.."Insights

Stephen Ward on Compliance Management

Compliance isn’t just about reporting, or data management, or training, or having the right technologies; it’s all of these together."

glad we have him working for us in Satyam!

Fff #

By Joe K Posted Friday 9th January 2009 22:35 GMT

Indian police are on the case eh?

I guess it'll "all be ok in 5 minutes" then.

Do the needful!

<Go audit my title> #

By Anonymous Coward Posted Sunday 11th January 2009 17:45 GMT

The question surely has to be with a huge fraud like this - how come the auditors signed off the accounts year after year as "True & Fair". I could understand the Madoff situation where there was some piss-ant little audit firm - but seriously, PriceWaterhouseCoopers should be barred from taking on additional audit clients. They're supposedly one of the big 4 Accountancy & Audit firms in the world, and god knows how much of the FTSE 100 financial statements are supposed to OK'ed by them, just as Satyams were OK'ed.... Talk about bad timing for denting faith in the stock market.