1st GTB now Satyam - PWC wake up

what the hell...preparation  of accounts is duty of mgmt.....but whether fin statments give a true & correct pic is the auditors responsibility...the auditor shud hv been careful

Auditors are equal partners in fraud.....

They would need to prove a strong ground that they observed reasonable care and not carelessness

The question is not whether they are a partner or not.. we can never be too sure and so we SHOULD not comment.. but do u think they will come out clean like they did in the case of GTB in 2004..hope u remember..  a management fraud which sunk the bank... Pls note it was the same auditor...

Now auditors are required to be more careful

i think auditors r also responsible . Auditor cannot escape from saying such irresponsilble statement . Satyam director has accepted the inflated figure of 5000 + crores.

Do u  think that auditors were so innocent that they have not  found that such a big mistake . If they cannot find such a mistake then they are not eligible to be an auditors.

 Sorry to say this but being in the same profession it hurts if our collague does such unpardonable activity.

U cannot hide an elephnat inside the hand kercheif.

So, according to me corporate governance and independence of statutory auditors , which is for name sake has to be implemented with stringent measures in case of default.

The admission of fraud by Mr. Raju puts a big question mark on the work been done by the auditors......as per the statement of Mr. Raju the Profits have been inflated from past many years.....so the big question is that how the auditors were blindfoldedly signing on the audit reports for so many years........It also raises a question on the results of other listed companies...........!!!!!!!!!!!!!!!!11

They took "Price" and "water"ed down the report and "house'd the crime with "cooper'ation of all in the game. That's Price water house coopers honey!

will CA institute will wake up to take any steps.......

Or it will try to protect the CA Community by defending PWC.

WAT stake ICAI will Take

PWC is definietly a partner to the scam & fraud. They r more dangerous than Ramalinga Raju.

It is like police joined hands with theifs/terrorists.

Sivraj patil has set an example , will PWC do that?

ICAI is in the process of blacklisting PWC

Well.. Investors are comparing Satyam to Enron... So as students of CA should be compare PWC with Arthur Anderson (CAs of ENRON) that went out of business post ENRON debacle... 

when pwc were the auditors for three 4 big scams in india. i wonder whether our legal system is still functioning. Till now i used to have a dream to work in big 4 audit companies. now i just started thinking, when they are just giving up their values for money or some other things, how could anyone dare to dream like that again. for me too money is important, but definitely not in this way. And i prepared not to even dare to dream to work in big 4 specially pwc. My questions is about the negligence of pwc regarding the following scams say uti, itc, global trust bank and now satyam. are they really working for money or for values