PwC fined for failing to detect Satyam fraud
PricewaterhouseCoopers has been fined US$7.5 million over the fraud at Indian outsourcer Satyam.
PricewaterhouseCoopers has been fined US$7.5 million over the fraud at Indian outsourcer Satyam.
Indian outsourcer Satyam Computer Services has agreed to pay a US$10 million penalty to the US Securities and Exchange Commission (SEC) to settle charges of financial fraud, the SEC has announced.
Indian outsourcer Satyam Computer Services informed the Bombay Stock Exchange (BSE) on Monday that it has applied to India's Company Law Board (CLB), seeking an extension to Sept. 30 for filing its 2008 and 2009 financial results.
Over a year after Indian outsourcer Satyam Computer Services reported a major financial fraud at the company, research firm Forrester still cautions customers doing business with it.
Tech Mahindra's takeover of deeply troubled Indian IT services company Satyam could see a renewed push into the Australian and New Zealand markets.