Satyam Means Truth
Yesterday I posted on the Satyam fraud – Satyam is an Indian outsourcing company. Pricewaterhouse Coopers is Satyam’s auditor. And because PwC missed the $1 billion elephant in the room, they might have a problem:
PwC said it was examining [Chairman and CEO] Raju’s statement but could not comment further due to confidentiality issues.
The fraud could cause problems for PwC. Since Satyam was listed in the US, investors can turn to the courts there for recompense, and there are legal precedents for holding auditors accountable.
I love the smell of litigation in the morning.
$1 Billion Fraud at India IT Group [FT]
And don’t we have a PwC because the C had problems with Enron? Math is hard.
@nojo: Easy to sue accounting firms in some states, harder in others. Federal court also difficult, but my own interest is in the fight, not the outcome.
That reminds me, I should pee on the grave of Arthur Anderson when I get the chance.
Is ANY rich person honest anywhere? Jeebus.
Don’t worry too much about PwC. They’ll just change their name ala Arthur Anderson = Accenture, and–tah dah!–everyone will forget all about it. Those wacky kidz are gonna be just fine.
@Tommmcatt Yet Again: only the verifiably dead ones.
somewhat related: “IT companies in Bangalore, including Infosys Technologies and Wipro, received an e-mail last week threatening to blow up their facilities, according to police officials.”
http://www.csoonline.com/article/474075/Bangalore_IT_Companies_Receive_E_mail_Threats
Then there’s the intimidation of the media in Mexico as regards reporting on the drug trade . . .
@redmanlaw: Hope they back up offsite.
Does this mean they won’t be tabulating the Oscar winners this year?
MANCHUCANDIDATE • Weeping Angel Imagine going from hope to Fascism in less than two decades enabled by greedy ass (millionaire)…
NOJO • Nightmare at the Museum From the last time he threatened to bomb Iran, 2020. Remember that one? All a misty blur now.
NOJO • TRUMP TARIFFS UNLEASHING FURY OF CANADIANS - AND THEIR LEGENDARY SNIPERS! @ManchuCandidate: I have birthright citizenship in Cascadia, so I think I’m good.
MANCHUCANDIDATE • TRUMP TARIFFS UNLEASHING FURY OF CANADIANS - AND THEIR LEGENDARY SNIPERS! @nojo: Only the sane parts... like the West coast, New England (minus the Bruins and…
NOJO • TRUMP TARIFFS UNLEASHING FURY OF CANADIANS - AND THEIR LEGENDARY SNIPERS! @ManchuCandidate: So, can you guys annex us now?
MANCHUCANDIDATE • TRUMP TARIFFS UNLEASHING FURY OF CANADIANS - AND THEIR LEGENDARY SNIPERS! PP is done. 51st state, my ass.
NOJO • TRUMP TARIFFS UNLEASHING FURY OF CANADIANS - AND THEIR LEGENDARY SNIPERS! @FlyingChainSaw: No, but my government was.
FLYINGCHAINSAW • TRUMP TARIFFS UNLEASHING FURY OF CANADIANS - AND THEIR LEGENDARY SNIPERS! @nojo: Were you kidnapped?
NOJO • TRUMP TARIFFS UNLEASHING FURY OF CANADIANS - AND THEIR LEGENDARY SNIPERS! @FlyingChainSaw: I’ve spent the past five weeks looking like Astronaut Dave going through the…
FLYINGCHAINSAW • TRUMP TARIFFS UNLEASHING FURY OF CANADIANS - AND THEIR LEGENDARY SNIPERS! NOJO - HOW COME WE'RE NOT COVERING KRASNOV?