Window dressing of Balance sheet

Window dressing and 'undressing' - II
Business Standard / New Delhi May 20, 2011, 0:44 IST

Apropos the editorial “SBI comes a cropper” (May 19), it has become a ritual for new managements in banks to show the old guard in poor light. Such announcements indicate that many things have been and can be hidden. Stakeholders go by the reports that appear in the papers and elsewhere. If SBI’s present position is true, then the earlier reports compiled by chartered accountants and vetted by the auditors and regulators are wrong. The matter should be investigated. The accountants and auditors owe investors an explanation — and so does the Reserve Bank of India.

T V Gopalakrishnan,