Tuesday, July 07, 2009

PricewaterhouseCoopers faces questions over 'India's Enron' role

Posted by Plus Master at 7:07 AM
 

Accountancy giant PricewaterhouseCoopers is facing deepening scrutiny over its audit of Satyam - the IT giant known as "India's Enron" - whose founder admitted fabricating cash and other non-existent assets of more than £1 billion ($2.59 billion).

The audit of Satyam was not, as previously thought, carried out by PWC's main operation in India but by a small subsidiary called Lovelock & Lewes, according to the Central Bureau of Investigation, which looks into serious and complex Indian fraud cases.

Read the full story here on the New Zealand Herald website.
POSTED IN Accountants

0 Responses to "PricewaterhouseCoopers faces questions over 'India's Enron' role"

Please Leave a Comment

PLUS Community Disclaimer

PLUS encourages the use of these groups for the exchange of information and ideas, however, comments or material posted by others may be removed if PLUS determines it is inappropriate or offensive. User-generated content does not represent the opinion of PLUS or its members but is the sole responsibility and opinion of the user generating such content. PLUS Blog has no control over and does not endorse linked website(s), cannot guarantee the accuracy of any information found by following said links or the correctness of any analysis found therein and should not be held responsible for it or the consequences of a user's reliance on that information.