Price Waterhouse (PW) has said that it resigned as statutory auditor of Satyam Computer Services with effect from February 12, 2009, while stating that it would co-operate with the ongoing investigations into the Rs 7,800-crore fraud at the IT major.
The Satyam board yesterday proposed the removal of its auditor Price Waterhouse to the Ministry of Corporate Affairs.
"The board had recommended to the Ministry of Corporate Affairs the removal of PW as the statutory auditors of the company and notified PW. PW has tendered its resignation to act as Statutory Auditors of the company. The company is now intending to appoint new statutory auditors," a statement from Satyam said.
