With the accounts of Satyam having gone to the dogs, with the CEO having admitted his culinary skills in cooking the books of Satyam, the need of the time is to have an accounting firm verify the accounts of Satyam and bring to light whether the company was drawing in profits or was in a loss making scenario.

Satyam Computer Services will appoint a new accounting firm within the next 48 hours to work on restating the accounts and  declare the December quarter earnings, a member of the new board said.

Working capital issues require immediate attention at the company, Deepak Parekh, a senior banker and one of the government appointees to Satyam’s board, told reporters after the first meeting of the newly constituted board.

The government dissolved Satyam’s board and installed a new three-man board as it rushed to contain the fallout from India’s biggest corporate scandal, after its founder revealed massive accounting fraud and quit the company.

Related News on Satyam Scam:

1. Indian Firm May Get Satyam Audit Mandate - With PriceWater Hous Cooper having bungled up big time with...
2. Satyam’s New Board To Start Hunt For New CEO, CFO - The task ahead for the new Satyam board is well...
3. Satyam’s New Board Not Keen On Selling Satyam - Suitors for troubled Satyam Computer may keep away, as the...
4. New Satyam Board All Set To Meet Within 24 Hours - Things are moving at a fast pace with the  Government...
5. Government Puts Parekh, Karnik And Ex-SEBI Member On Satyam’s Board - Moving quickly to stabilise the fraud-devastated Satyam Computer, the government...