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1/25/2009
A Billion Dollars in Phony Profit Will Raise Issues for Your Auditors
Major Accounting Firms Eyed by Fraud Victims in Madoff Mess
PWC Slammed in $100 Million Settlement 10/22/2007
PWC Releases 2007 Global Economic Crime Survey
UK Business Community Headed For Its Own Enron Style Meltdowns?
A Billion Dollars in Phony Profit Will Raise Issues for Your Auditors
When the company is Satyam and the auditor is PriceWaterhouseCoopers it means that folks are getting arrested - in this case, S. Gopalakrishnan and Srinivas Taluri, PWC's Satyam account reps in Hyderabad. All I want to know is, what does Francine think?
-- MDT
12/21/2008
-- MDT
Major Accounting Firms Eyed by Fraud Victims in Madoff Mess
PricewaterhouseCoopers and BDO Seidman are just two of the big names whose customers are mulling or have already filed suit.
-- MDT
10/08/2008
-- MDT
Labels: accounting fraud, BDO Seidman, Bernie Madoff, PWC
PWC Slammed in $100 Million Settlement 10/22/2007
PWC Releases 2007 Global Economic Crime Survey
A graph from Forbes -- not exactly encouraging...
-- MDT
3/01/2007
"In total, 43% of 5,400 companies surveyed in 40 countries reported suffering one or more significant economic crimes since the accounting firm last conducted its survey two years ago. The prevalence of economic crime reported was level with 2005 results but up six percentage points from 2003...The basic finding is that economic crime is unabated everywhere in world, regardless of the size of companies, and continues to pose a significant business risk,” Steve Skalak, PricewaterhouseCoopers’ global investigations leader,"Be sure to check out the full PricewaterhouseCoopers' 2007 Global Economic Crime Survey right here.
-- MDT
Labels: Global Economic Crime Survey, PWC
UK Business Community Headed For Its Own Enron Style Meltdowns?
So says Peter Wyman, head of professional affairs at Pricewaterhouse Coopers, UK. In a recent interview, Wyman called existing company audit procedures inadequate and states that executives could indeed be using loopholes in the existing law to thwart regulation:
-- MDT
“At the level of an Enron or a WorldCom, I am pretty confident that the auditors would stumble across it in two or three years, but one would have no real confidence that they would come across it in year one unless they were incredibly lucky or the management made a mistake. The audit is simply not designed to deal with that.”Read the rest of the Wyman interview via The Business. For more, check out his column from the CPA Journal.
-- MDT
Labels: accounting fraud, Enron, PWC, regulation
http://www.retheauditors.com/2009/01/pwc-and-satyam-another-fine-mess-youve.html