New Delhi: Chartered accountants body ICAI today constituted a six-member special committee to look into the auditing of crisis-hit Satyam Computer, whose disgraced founder chairman Ramalinga Raju has confessed to fudging accounts.
The special committee will be headed by ICAI Vice-President Uttam Prakash Aggarwal and submit its report on the Satyam auditing issue on February 11, a spokesperson of the regulator said.
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ICAI council members -- S L Dogra, Amarjeet Chopra, Subodh Aggarwal and Akshay Gupta -- are members of the special committee. A government nominee -- K R Maheshwari, a banker and chartered accountant -- is the sixth member.
The committee will go to the root of the matter, ICAI President Ved Jain had said yesterday, after the institute council's meeting.
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ICAI is scrutinising the role of PwC, which audited the accounts of Satyam Computer, whose accounts had been fudged to show inflated profits.
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The regulator has given showcause notice to PwC and asked it to submit all balance sheets, financial statements and related documents of Satyam Computer audited by it.
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If found guilty, individual auditors could face a lifetime ban, but no action could be taken against PwC by ICAI.
