Pricewaterhouse names three members of advisory board

April 22nd, 2009 - 8:58 pm ICT by IANS  

Chennai, April 22 (IANS) Audit firm PricewaterhouseCoopers (PwC) India Wednesday named three members of its proposed advisory board, which will help the local executives rebuild the company’s tarnished image after the Satyam scam.
PwC, which for several years inspected the books of the fraud-hit Satyam Computer Services, said in a statement that three retired bureaucrats - former cabinet secretary Naresh Chandra, former comptroller and auditor general V.K. Shunglu and former chief election commissioner B.B. Tandon - will be in the five-member advisory board.

Chandra will be the chairman of the board, which will advise the audit firm on quality, business strategy and governance, the statement said.

The company had earlier said Gautam Banerjee, a senior partner of PwC’s Singapore arm, would also join the board to provide a perspective from outside India.

PwC is yet to appoint the fifth member.

“The breadth and depth of experience that they will bring will be very valuable as we set out our plans to grow and develop and to continue to provide the highest quality of service to our clients and stakeholders,” said PwC chairman Ramesh Rajan.

The Central Bureau of Investigation (CBI), which is probing the Rs.78-billion Satyam scam, has charge-sheeted PwC India.

Two of the audit firm’s partners, S. Gopalakrishnan and Srinivas Talluri, are now in jail for their alleged involvement in the scam.

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