At last SEBI woken up from slumber and issued a show cause notice to Price Waterhouse Coopers (PWC), the auditors of Satyam. I saw the news in today's Economic Times. However, the news article does not say what action is proposed by SEBI for which PWC has been directed to show cause. I believe, PWC is equally responsible for whatever has happened in Satyam. Without their connivance, the falsification of accounts was not possible at all. I would say, the fraud is NOT committed by Ramlinga Raju alone, but it is committed by Raju along with PWC. So they are equally responsible. However all will depend upon the investigation and what charges are framed against PWC in the court of law. Then the trial will take place and based on evidence produced by the prosecution, the court will arrive at some conclusion. As of now, we have to only wait and watch.
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