India's Satyam to appoint new accounting firm

HYDERABAD, India, Jan 12 (Reuters) - India's embattled Satyam Computer Services (SATY.BO) will appoint a new accounting firm within the next 48 hours to work on restating the accounts and declare the December quarter earnings, a member of the new board said. Working capital issues require immediate attention at the company, Deepak Parekh, a senior banker and one of the government appointees to Satyam's board, told reporters after the first meeting of the newly constituted board.

The government dissolved Satyam's board and installed a new three-man board as it rushed to contain the fallout from India's biggest corporate scandal, after its founder revealed massive accounting fraud and quit. (Reporting by Devidutta Tripathy; Editing by John Mair)