What Was the Role of Mr Vadlamani Srinivas ?, Ex-Cfo of Satyam Computer Services in the Accounting Scam

Mr V. Srinivas wilfully manipulated financial data and guided the cater in modifying the make results, which were false and forged. He revealed that the FDs were non-existent, results manipulated and he just signed on instructions from Mr B. Ramalinga Raju, ex-Chairman, in the Rs 7,136-crore financial pasquinade? Being at the centre of any(prenominal) financial dealings of Satyam, Mr V. Srinivas wilfully and actively manipulated financial data and guided the pay department staff in modifying the published results, which were false and forged.Mr Srinivas got the monthly bank statements of dissimilar banks forged, he got issued forged bank match confirmation letter and got the forged letters signed by Mr B. Rama Raju (Ex-Managing Director), and br other of Mr Ramalinga Raju, demo purported transfer of funds and got forged FDs prepared. any these forged documents were used for fraudulently inflating the notes and bank balance artificially in the books of accounts for several years.Though Mr Srinivas was never designated as Director, he subscribed his signature in the one-year financial statements of the company as a Director, the investigating agency has charged. The ex-CFO dishonestly got the falsified, expand sales invoices generated and fed in the vaticinator Financials System. He was in league with the other accused persons and perpetrated the fraudulent acts. Further, Mr Srinivas guided the finance department personnel on the quantum of pretentiousness of sales to be infused into the computer body from time to time.Rosy presentations Mr Srinivas along with Mr Ramalinga Raju gave deceptive replies on Satyams earnings during conference calls broadcasted every quarter to various investors, thus distorting the genuinely(a) financial position. During board meetings and the audit commissioning meetings, the ex-CFO made rosy presentations of the companys financial health, despite knowing the real financial position. Similarly, by conniving with the Raju brothers, he worked against the interest of the company and shareholders, whose interests he was to protect.While creation party to perpetrating the fraud with the Raju brothers and other accused, Mr Srinivas was a beneficiary. He gained from the dividends received and the amount got by offloading shares at opportune moments. Thus, he was derriere to the offences. Although Ramalinga Raju has absolved his entire senior counsel of any wrongdoings, it is common familiarity that a financial crime of such order of magnitude could not have been committed without the knowledge of the bean counters. The person in sharpen here is Srinivas Vadlamani, the Chief Fraud Officer of Satyam.Willingly or unwillingly, Srinivas has been party to the accounting irregularities at Satyam. The instal of Chartered Accounts of India (ICAI) has found Satyams source chief financial officer Srinivas Vadlamani and PWC tender Srinivas Talluri, who signed the companys financial audit, blamable of professional misconduct in the Rs 8,000-crore Satyam fraud the biggest such case in India Inc. These two have been found guilty on three counts Failing to conduct proper due diligence of the accounts, rude negligence of their work & Violating the ICAIs reckon of conduct.