Monday, June 14, 2010

KPMG and Deloitte Now Want More Time to Restate Satyam Financials

June 14, 2010

David Nelson

We have blogged extensively earlier about the huge Satyam scam (January 2009), PricewaterhouseCoopers India’s involvement and subsequent hiring of KPMG and Deloitte to restate the company’s financials (from 2002 to 2009) and come out with the truth about the exact financial position, the nature of true accounting and set to rest speculation on how this travesty was perpetrated.

The restatement would clear up the real situation about the financials, and clarify whether Mr Raju had fudged the accounts or diverted the funds from the IT company to finance his real estate companies.

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