Satyam receives global recognition from US-based Institute of Internal Auditors

Hyderabad: The internal audit team of global consulting and IT service provider, Satyam Computer Services, has joined an elite list of companies across the world that have received the 'recognition of commitment award' (ROC) from the US-based Institute of Internal Auditors (IIA).

Satyam is the third company in India to receive the ROC award from IIA, said to be the highest recognition for an internal audit department globally.

The ROC award is designed to recognise internal audit operations all over the world that demonstrate achievements and dedication to continued improvement. The ROC includes three professional attributes: excellence which measures the knowledge, skills, and disciplines needed by the internal audit activity to carry out its responsibilities; Quality which evaluates if the appropriate criteria adopted by the internal audit activity to carry out its mission within the organization; and Outreach assessing the contribution made by members of the internal audit activity to the profession of internal auditing.

VSP Gupta, senior vice president, internal audit, said, "Satyam is one of only 26 internal audit departments worldwide receiving this award in 2005 and it reinforces our commitment to meet the international standards in the concepts and approaches to audit function contributing to better corporate governance. From the customer's perspective, t his development would further our customer's confidence in us, and our efforts will continue to deliver services which will match global standard of quality."

Established in 1941, IIA is an international professional association with global headquarters in Florida and has more than 112,000 members throughput the world from the internal auditing, governance, internal control, IT audit, education, and security functions.