Accountancy Age has an article saying:
New PricewaterhouseCoopers UK chairman Ian Powell has used his first major speech to urge accountants to contribute to fixing the work financial system by creating an early warning system for future crises.
I can only guess he has no idea how absurd this idea is.
The current financial crisis is the result of the spread of the neo-liberal model of markets. PWC were at the forefront of promoting that.
It's happened because of de-regulation. PWC were at the forefront of promoting that.
It's happened because of a culture of corporate irresponsibility, largely based on the belief that business has no duty to pay tax. PWC were at the forefront of promoting that.
It's based on shifting transactions offshore. PWC operate in all the world's major tax havens.
It's based on accounting reforms that assume that speculation is more important than making real profit, or real anything come to that. PWC were at the forefront of promoting that.
It's been based on a lack of transparency where even banks do not trust each others accounts. PWC signed more of those accounts than anyone else.
If there is one organisation that cannot contribute a solution it is PWC.
If there are four organisations unsuited to contribute they are the Big 4.
There is a role for accountants: accountants like Prem Sikka. But not Ian Powell.