SEBI bans PwC entities from issuing audit certificates for 2 yrs in Satyam Case
PrintListen to this Article
0:00
0:00
The Securities and Exchange Board of India (SEBI) has barred auditor major Price Waterhouse's network entities from issuing audit certificates to any listed company in India for two years after finding it guilty in the multi-crore Satyam scam.
It also ordered disgorgement of over 13 crore rupees wrongful gains from the audit major and it's two erstwhile partners who worked on the IT major's accounts.
The market regulator's order comes nearly nine years after the scam at Satyam Computer Services surfaced and after two failed attempts by Price Waterhouse to settle the case through consent mechanism.
This is also one of the most stringent orders passed by any regulator against a Big Four audit major. #casansaar (Source - NewsonAir)
It also ordered disgorgement of over 13 crore rupees wrongful gains from the audit major and it's two erstwhile partners who worked on the IT major's accounts.
The market regulator's order comes nearly nine years after the scam at Satyam Computer Services surfaced and after two failed attempts by Price Waterhouse to settle the case through consent mechanism.
This is also one of the most stringent orders passed by any regulator against a Big Four audit major. #casansaar (Source - NewsonAir)
Category : SEBI | Comments : 0 | Hits : 1495
SEBI Mandates AIFs to Upload NAV Data on Depository Platforms To strengthen disclosure standards and streamline processes, the Securities and Exchange Board of India (SEBI) has instructed Alternati...
India's securities regulator has accused current and former executives at the local units of PwC and EY, among others, of breaching insider trading rules involving a 2022 share sale by Yes Bank, a...
A financial influencer, also known as finfluencer, who was also involved in imparting training related to stock market trading has been asked to part with a little over ?12 crore, which it made unlawf...
Comments