Before the Wipro's audit committee meeting to discuss the fraud fallout. Anoop Agarwal allegedly responsible for the $4 million fraud, is believed to have committed suicide.

Anoop
Agarwal, the employee
allegedly responsible for a
$4 million fraud at Wipro,
is believed to have
committed suicide,
according to Bloomberg
UTV. Incidentally, Wipro's
audit committee was
reportedly scheduled to
meet today to discuss the
fraud fallout.
Anoop Agarwal, the
employee allegedly
responsible for a $4 million
fraud at Wipro, is believed
to have committed suicide,
according to Bloomberg
UTV.
ncidentally, Wipro's audit
committee was reportedly
scheduled to meet today
to discuss the fraud fallout.
Agarwal had been working
with the company for the
past three years in the
' controllership' division
within the finance
department. This cell is
responsible for keeping the
company 's financial books
and also has powers to
authorise payments
whenever needed. The
employee is believed to
have embezzled about $4
million by stealing a
password and transferring
money from Wipro 's
account at a bank.
Wipro has since disbanded
the controllership unit. Six
employees are said to
have been sacked for
negligence.
Apart from setting up an
internal investigation team,
Wipro has also taken help
from external auditors and
investigation experts who
will vet its processes and
certify the soundness of its
controls. The company is
already engaged with an
external agency for
conducting assessment of
the existing audit and other
processes in order to
verify any potential
loopholes.
[src: TOI]

---------- Forwarded message ----------
From: bhumika singh <bhumika.singh97@gmail.com>
Date: Mon, 22 Feb 2010 19:54:07 +0530
Subject: Before the Wipro's audit committee meeting to discuss the
fraud fallout. Anoop Agarwal allegedly responsible for the $4 million
fraud, is believed to have committed suicide.
To: parttimenaukri.co.nr@gmail.com

NEW DELHI:Anoop Agarwal, the employee allegedly responsible for a $4 million
fraud at Wipro, is believed to have committed suicide, according to
Bloomberg UTV. Incidentally, Wipro's audit committee was reportedly
scheduled to meet today to discuss the fraud fallout.

Anoop Agarwal, the employee allegedly responsible for a $4 million fraud at
Wipro, is believed to have committed suicide, according to Bloomberg UTV.
ncidentally, Wipro's audit committee was reportedly scheduled to meet today
to discuss the fraud fallout.

Agarwal had been working with the company for the past three years in the
'controllership' division within the finance department. This cell is
responsible for keeping the company's financial books and also has powers to
authorise payments whenever needed. The employee is believed to have
embezzled about $4 million by stealing a password and transferring money
from Wipro's account at a bank.

Wipro has since disbanded the controllership unit. Six employees are said to
have been sacked for negligence.

Apart from setting up an internal investigation team, Wipro has also taken
help from external auditors and investigation experts who will vet its
processes and certify the soundness of its controls. The company is already
engaged with an external agency for conducting assessment of the existing
audit and other processes in order to verify any potential loopholes.

[src: TOI]

--

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