name the company which has been recently penalized by sebi related to satyam case?
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Hello friend,
PwC has been recently penalized by sebi related to satyam case.
India's accountancy firm has banned PwC for failure of keeping accountancy record due to which styam had to face fraud for insurance purposes.
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The company that was recently penalized by SEBI related to ‘Satyam case’ was ‘Price Waterhouse’.
Explanation:
- The audit firm Price Waterhouse was imposed with a two-year ban by the Securities and Exchange Board of India (Sebi) in 2009 for the Satyam computer fraud.
- In regards to the fraud, the Sebi imposed the two-year ban on network companies of ‘Price Waterhouse network’ and they would be unable to issue audit certificates to any listed company in India because of the ‘multi-crore scam at Satyam’.
- Price Waterhouse Coopers were the auditors for the ‘Satyam Computer services’ during the time of the scandal.
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