Mps water down new rules for auditors
MPs have watered down a proposed new rule for auditors by removing a clause which would have made it an offence for accountants carrying out an audit to fail to comply with auditing standards.
Audit firm Price Waterhouse on Wednesday said it had identified three members for its proposed advisory board that will guide the audit firm on key operational aspects for the Indian market, as part of a plan to rebuild its image after the Satyam fraud.