Two overseas auditors have been charged by the Securities and Exchange Commission for alleged misconduct in the audits of British software company AremisSoft Corp.
Filed in federal court in Manhattan, the suit alleges that Savvides & Partners/PKF Cyprus, a Cyprus-accounting firm, and R.K. Dhawan & Co., an Indian accounting firm, failed to conduct basic auditing procedures that would have detected fraud at AremisSoft. The SEC is seeking civil penalties from the firms, as well as Pavlos Meletiou and R.K. Dhawan.
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