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| Mahindra Satyam may appoint Deloitte as auditor for 2009-10 |
| Press Trust of India / New Delhi Oct 19, 2009, 20:19 IST |
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Software exporter Mahindra Satyam, erstwhile Satyam Computer, is all set to appoint Deloitte as its statutory auditor for 2009-10, according to sources.
An announcement to this effect is likely to be made this week after a meeting of the board of the company, sources close to the development said.
Global auditing firm Deloitte had earlier shown interest to become the auditor of scam-hit Satyam Computer Services (rebranded as Mahindra Satyam).
When contacted, the company spokesperson declined to comment on the development.
Deloitte is also the statutory auditor for Tech Mahindra, which acquired Satyam Computer through an open bid in April this year.
Earlier, Deloitee was mandated along with KPMG by the government-appointed board of Satyam to re-state the accounts of scam-hit firm, but opted out of the role due to a possible conflict of interest.
Satyam¿s accounts are being re-stated over the past seven years after its defamed founder B Ramalinga Raju confessed to perpetrating an over Rs 7,000-crore financial fraud at the firm.
Two officials -- S Gopalakrishnan and Srinivas Talluri -- of the earlier book keepers, Price Waterhouse, were arrested in January in connection with the financial fraud.
After this, Price Waterhouse resigned in February from its role as statutory auditor.
The board of Mahindra Satyam had received nod from the Company Law Board to appoint a statutory auditor for 2009-10.
However, industry sources said as Deloitte is also Tech Mahindra's auditor, in case of an eventual merger between Mahindra Satyam and Tech Mahindra, uniform audit standards can help make integration easier.
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