Recession has affected almost all of the industries in India. Big 4 firms  despite their might have been having a tough time dealing with the recession. One chain of thought argues that big 4 firms should, to some extent, be sheltered from the current crisis. Their type of client, the large private and public multinational company, will invariably have a legal requirement...

Auditing and consulting firm PricewaterhouseCoopers (PwC) maintains that it did not play any role in the alleged financial irregularities of  fraud-mauled Satyam Computer Services Limited, but is looking back at “significant lessons” from the controversy linked to accusations that its  partners rubber-stamped doctored accounts in the company. It does not expect...

Furious Indian investors are demanding to know how PricewaterhouseCoopers (PwC), one of the world’s largest accountancy firms, missed a systematic £1 billion fraud at Satyam, the IT outsourcing giant, for as long as seven years. In contrast, Merrill Lynch, the US bank, became aware of the deception in just ten days. PwC’s role in “India’s Enron”...