Andhra CID Arrests Two PwC Officials

Two auditors from accounting major Price Waterhouse (PwC) have been arrested by the Andhra Pradesh CID, says a NDTV Profit news flash. The two officials, S Gopala Krishna and Taluri Srinivas, have been arrested on charges of accepting bribe from Satyam management. PwC was the auditor of Satyam Computer Services, whose chairman B Ramalinga Raju admitted to a Rs 7,000 crore scam. Since then the role of the auditor has been under question. 

The Satyam scandal has dented the image of PwC, one of the accounting big four. The other three are KPMG, Ernst & Young and Deloitte & Touche. Satyam's new board has now appointed two new auditors - KPMG and Deloitte & Touche.