Satyam board to take stock of accounts on Sept 4

Written by fe Bureaus | Hyderabad | Updated: Aug 31 2009, 06:47am hrs
The board of directors of Mahindra Satyam will meet on September 4 to take stock of the companys financials, the companys government-appointed director TN Manoharan said.

He said, The six-member board and the auditing committee of Satyam will meet in Hyderabad on September 4. Global audit majors KPMG will be making a presentation on the progress made so far on restatement of accounts. Besides, the issue of appointing statutory auditors is also likely to be discussed in the meeting, Manoharan said.

The international auditing firm Deloitte is in the race to perform the role of a statutory auditor, he added. He spoke to the media on the sidelines of the 41st regional conference of the southern India Regional Council of the Institute of Chartered Accountants of India (ICAI) in the city.

Satyam was recently acquired by Tech Mahindra and renamed as Mahindra Satyam.