PwC off the hook over Satyam? Not so fast!

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.