Corporate affairs minister, Salman Khurshid, will meet the president of Institute for Chartered Accountants

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of India (ICAI), UP Agarwal, to discuss the report submitted by the accounting regulator on the Satyam scam. The report goes into the Rs 7,000 crore fraud perpetrated by the disgraced chairman of Satyam Computers, B Ramalinga Raju, and the auditors of PricewaterHouse.

Khurshid told Financial Chronicle that he had personally seen extracts from the report and the ministry was closely following it up now. The minister added that he had sifted through some portions of the report and his ministry had not taken any decision so far based on it.

ICAI president UP Agarwal said the meeting would not have any fixed agenda. “Apart from the report, we would discuss a wide range of issues pertaining to corporate affairs and accountancy standards,” he said. He emphasised that the meeting was not merely about the report. However, ICAI would assist the ministry in any further probe.

ICAI had set up a high-level committee comprising S L Dogra, Amarjeet Chopra, Subodh Aggarwal and Akshay Gupta to look into the accountancy fraud.

After Raju’s confession regarding the fraud on January 7, 2009, Premchand Gupta, the corporate affairs minister in the previous UPA regime, had asked ICAI to prepare a detailed report on the fraud. Solving the Satyam scam was a top priority in the 100-day programme of the corporate affairs ministry.