Tax Research UK

PwC off the hook over Satyam? Not so fast!.

Dennis Howlett on PWC’s legal manoeuvrings to get out of liability for the Satyam audit.

As he notes:

So let me get this straight. PwC successfully argued that it was a franchise and not directly connected to other firms in the PwC orbit. If that’s the case then there’s a whole bunch of questions to be asked such as:

• What the heck was the CEO of PWC doing in India in the aftermath of the Satyam scandal?
• If there is no connection then why did Thomas Mathew step down?
• Do we now have confirmation that PwC is only a brand and not a global firm?
• Does this mean that if I subcontract and my subcontractor messes up then I can still avoid liability?
• How does PwC get a pass when it signed off the accounts and not the subcontractor?

This one has a long way to run as yet.

Richard Murphy Accounting, Auditing, PWC