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PwC and Satyam

 
forum comment
#0 PwC and Satyam
 
anon
09.01.9 00:00
 
http://business.timesonline.co.uk/tol/business/industry_sectors/technology/article5476010.eceIs this going to have any impact on PwC globally?
 
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forum comment
#0 RE: PwC and Satyam
 
Bob
09.01.9 00:00
 
Interesting question.If Satyam is India's Enron, and Enron brough down Andersen...But I'm not too familiar with the Enron story and what the chain of events was that led to Andersen's collapse. Perhaps in that case the main problem was complicity and a firm-level order to "shred, shred, shred". In that case, lets hope PwC has communicated that order over the phone and not in an e-mail.Otherwise we could go from the Big Five to the Fat Four, and on to the Thick Three.But in that case, the audit and advisory market will become extremely difficult: in cases of M&A and other deal advisory, there aren't enough players in the FTSE100 field to find service companies without other conflicting connections.
 
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