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Price Waterhouse resigns as Satyam auditor

Price Waterhouse has said that it resigned as statutory auditor of Satyam Computer Services Ltd with effect from Feb 12, while stating that it would cooperate with the ongoing investigations into the Rs 7,800 crore fraud at the IT major.
PTI | By HT Correspondent, Hyderabad
UPDATED ON FEB 22, 2009 01:45 PM IST

Price Waterhouse has said that it resigned as statutory auditor of Satyam Computer Services Ltd with effect from February 12, 2009, while stating that it would cooperate with the ongoing investigations into the Rs 7,800 crore fraud at the IT major.

The Satyam Computer Board on Saturday proposed the removal of its auditor Price Waterhouse to the Ministry of Corporate Affairs.

"The Board had recommended to the Ministry of Corporate Affairs the removal of Price Waterhouse (PW) as the statutory auditors of the company and notified PW. PW has tendered its resignation to act as Statutory Auditors of the company. The company is now intending to appoint new statutory auditors," a statement from Satyam said.

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