Satyam (SAY): Not PWC's Only India Snafu

Turns out, PWC’s big Satyam miss isn’t the agency’s first big mess in India

Times Of India: Pricewaterhouse is already in deep trouble in relation to its suspect auditing of the collapsed Global Trust Bank, for which it is being probed by the disciplinary committee of the Institute of Chartered Accountants of India (ICAI).

In the GTB case, Pricewaterhouse was hauled up for alleged negligence in auditing of books of the bank and failing to detect huge levels of NPAs. The NPAs had accumulated due to massive exposure made by the erstwhile bank into the stock market which Pricewaterhouse is alleged to have overlooked.

(via @retheauditors)

See Also:
Nuke The SEC, Tax Companies For An Independent Auditing Fund
Hey, PwC, How Are You Going To Explain This Satyam Thing?

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