Things may start to get even uglier for PwC over in India, as India’s Central Bureau of Investigation (its equivalent of the FBI) now alleges that two auditors from PwC’s India-based office were aware that Satyam’s financial statements were being misstated, but still signed off the figures in return for an “exorbitant audit fee.” The CBI reportedly alleges in court papers that Satyam founder, B. Ramalinga Raju, two of his brothers, two PwC auditors and four other Satyam executives forged more than 7,000 fake invoices and dozens of bogus bank statements to inflate Satyam’s earnings.
