No Indian company must engage the Audit firm PricewaterhouseCoopers for 2 critical reasons 1. They have done this and perfected the art of fudging in the US thereby SOX is now in place 2. They have sullied India's status in the business community of the world.
For national pride we must keep Audit firm PricewaterhouseCoopers out of business in India. Without its connivance or complicity, the audit of Satyam woudl have been much better and closer to reality.
When organisations do not exhibit ethics and especially if they are the gatekeepers to public trust, they need to shut down and go. Such organisations are unfit. having lost the trustworthiness of the the public, no public organisation must do business with them.
The plight of 53000 Indian software workers at Satyam will recognise that Audit firm PricewaterhouseCoopers has let them down completely. They feel humiliated. This is just as bad as the Mumbai attack by terrorists. The terrorists were gunned down, Audit firm PricewaterhouseCoopers executives must face similar fate.
There are no Citizens in India. There are only People living in India.Here it is why.
DESPERATION 85% of Indians are languishing in an informal economy to earn $2 a day so that they can feed a meal for their family. Hence their lives oscillate between DESPERATION and FRUSTATION. As of today, Voting in Elections is the only respite for them.
COLLUSION The remaining 15% well to do Indians are even more desperate. They prefer not to pay taxes. And with taxes you buy Civilization. One Indian wishes other Indian to fail. Collusion is the only relation between any two individuals (politicians, business men, govt officials, judiciary etc) mostly through Casteism.
Satyam is audited by a firm, which doesn’t exist and person who is not a partner neither in the real firm nor the fictitious firm.
The Audit Report of Satyam Computer Services Ltd., was signed on 21st April 2008 by one Mr. Srinivas Talluri. (Membership no. of ICAI: 29864.
When we observed the appointment of auditors in the notice given – the firm which was appointed is PricewaterHouse, Hyderabad.
We searched the list of firms available at ICAI website (1-4-2008) – to know the address of PricewaterHouse, Hyderabad but to our surprise we could not find PricewaterHouse, Hyderabad. However we could see two firms as PricewaterHouse (one in Kolkata and one in New Delhi) we also found PricewaterHouse, Bangalore.
When we tried to find out the list of partners, we couldn’t find Mr. Srinivas Talluri as a partner. When we searched for another firm by name Lovelock & Lewes, we found Mr Srinivas Talluri is a partner in that firm. We all know that all f the above firms except PricewaterHouse, Hyderabad are member firms of PricewaterHouse Coopers network. and PricewaterHouse, Hyderabad doesn’t exist.
This infers the great Satyam Computer Services Ltd., was audited for several years by a fictitious firm and audit was conducted and signed by people who are neither partners of PricewaterHouse real firms or fictitous firms
Re: satyam and pricewaterhouse
by Your Favourite on Jan 09, 2009 12:35 AM
Stupid...get the facts right. Lovelock & Lewes is a subsidiary of PWC and is listed on PWC's locations website.
Am surprised and shocked to see Raju's revelations but I just can't beleive your BS