Monday, 26 January 2009

PwC staff detained in Satyam probe

Indian police have detained two PwC auditors in their first move against the professional services firm over the scandal afflicting Satyam Computer Services. Police said the pair were detained for interrogation over the scandal, in which B. Ramalinga Raju, former chairman of Satyam, confessed to fixing the accounts for several years. Price Waterhouse was the auditor of India’s fourth largest outsourcing firm by revenue. The arrests mark a widening of the fraud probe beyond the immediate family and former executives of Satyam. Investigators said the two auditors would be held in judicial custody until Feb 6.

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