The questioning of Ramesh Rajan, chairman and CEO of PricewaterhouseCoop ers, India (PwC) by CBI last week, has revealed that the Satyam balance sheets were in fact audited by Lovelock & Lewes and not Price Waterhouse (PW). … On being questioned by CBI about this “outsourcing” of work , Rajan, who is also a partner with PW, Bangalore said that the firm has no manpower and, hence, as part of an internal arrangement gives out their work to Lovelock and Lewes. …
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