Business Standard

Once Satyam, twice shy: Why auditors quitting big clients is complicated

The auditing community feels the burden of increased regulatory oversight, user expectations, and media activism

Audit
Premium

Ruchika Chitravanshi
On January 7, 2009, when B Ramalinga Raju resigned as the chief executive officer  of Satyam Computer Services after admitting to fraud, he set in motion a series of acts by regulators to clean up corporate governance in India, including the role of top executives and independent directors. Most of all, the incident changed the profession of auditing, which till then was usually described as “dull” and “anodyne”.

 The ripples of Satyam continue to be felt and are perceived to be the reason for many auditor-client separations. More than the number, auditors are exiting big names, which used to be

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in