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Satyam CFO Vadlamani Srinivas (R) being brought to the Chanchalguda prison after his arrest in Hyderabad. | Photograph: Krishnendu Halder/Reuters
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I didn't pay much attention to balance sheet: Satyam CFO

January 13, 2009

Tainted IT company Satyam's former chief financial officer Vadlamani Srinivas is believed to have told the Crime Investigation Department that he used to sign on the dotted lines in the company's balance sheet.

"I do not pay much attention towards the details of the balance sheet. The original balance sheet used to be kept before first quarterly board meeting that would be attended by nine directors at the Satyam Info City.”

"At the end of the 4-5 hour meeting, the balance sheet will come to me in the normal course. I will sign it and hand it over to the secretarial department," Srinivas reportedly told the CID officials during his questioning.

He said: "I used to take comfort and certify the accounts based on the audit findings presented by the company's statutory auditors PricewaterhouseCoopers."

In his panchanama Srinivas is believed to have said his role in the company was ‘limited to doing due diligence at the end of every quarter’.

"My assistant G Rama Krishna used to take care of all book-keeping, accounts payable and receivable apart from treasury management.”

"With regard to the audit of accounts, I used to be presented with balance sheet profit and loss and I used to have a discussion with statutory auditors (PricewaterhouseCoopers) who used to share with me their audit findings. Based on those findings, I used to take comfort and certify the accounts," he reportedly has said.

Text: PTI

Image: Satyam CFO Vadlamani Srinivas (R) being brought to the Chanchalguda prison after his arrest in Hyderabad. | Photograph: Krishnendu Halder/Reuters

Also read: The Satyam fiasco: Complete Coverage
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