Comments on: PwC Global Board: “Risk And Quality Top Priorities”

By: re: The Auditors » Blog Archive » Being Expedient: PwC Settles Satyam U.S. Class Action

Tue, 10 May 2011 01:37:18 +0000

[...] Integration Business, May 26, 2009 Satyam, SocMed, BDO International, and Sunshine, June 26, 2009 PwC Global Board: Risk And Quality Top Priorities, June 30, 2009 Dreaming of India: PwC and Satyam, July 17, 2009 PwC And Satyam: It’s Bigger [...]

By: re: The Auditors » Blog Archive » Dreaming Of India: PwC and Satyam

re: The Auditors » Blog Archive » Dreaming Of India: PwC and Satyam — Fri, 17 Jul 2009 05:46:30 +0000

[...] been two weeks or so since my last update on Price Waterhouse India and their infamous audit client, Satyam. In that post, I told you how [...]

By: Michael G

Michael G — Mon, 06 Jul 2009 13:42:58 +0000

@Dennis Howlett

Let me finish the second part of my CPA on the 18th, and we will get started.

By: Anonymous

Anonymous — Mon, 06 Jul 2009 02:08:32 +0000

@Roco… the firms are global. But as a consultancy the client is really hiring a particular person (generally a partner, sometimes a director or manager). They know that person uses others on their team, but hold that person responsible. The farther afield that person goes to build their team the more risky they get on quality — as they don’t know the team members as well. So going outside your practice, outside your office, outside your country — these things are risky. I do not see much difference if the team includes someone in another country from a “sister/brother” company, of from another practice or another office within the US. The less the responsible partner’s team knows them the riskier the pick. And there are plenty of bad picks within the country. What would be harder to prove, yet very interesting is which areas are historically weaker. Which practices are less talented, which offices, which countries. But really it is about the individuals selected for the team.

By: fm

fm — Sun, 05 Jul 2009 19:49:13 +0000

@Roco

Thanks.

It’s quite an indictment of a firm, I think, if their own active partners are fed up and want to provide confidential information to me, unsolicited. Frankly, it’s not just PwC but Deloitte and KPMG partners doing the same.

BTW Take a look here. Plenty of others, with no encouragement or prodding from me, focusing on the most notorious scandal right now.
http://blogs.zdnet.com/Howlett/?p=1037#comments
Francine

By: Roco

Roco — Sun, 05 Jul 2009 19:43:00 +0000

Re: David Zieloni

I think FM’s reporting is pretty accurate. All the firms take their hits, PwC just provides plenty of ammo right now.

PwC, along with all firms, try to sell themselves as global firms when the go out to bid on global clients. This certainly shows the limit of some of those global “capabilities”.

By: David Zieloni

David Zieloni — Sun, 05 Jul 2009 08:56:53 +0000

Heads I win, tails you lose!

The story here would be if risk and quality were not the number one priority for an auditing firm. The only story from the above is that a PwC Partner would break his/her firms code of conduct and to provide confidential minutes to a third party.

Going forward why not just rename your Blog to Francine McKenna hates PwC . com? That would be a far fairer reflection of your views than re. the Auditors.

By: Dennis Howlett

Dennis Howlett — Sat, 04 Jul 2009 23:43:06 +0000

@MichaelG – get that page going!!! I’d add color….

By: fm

fm — Thu, 02 Jul 2009 16:14:50 +0000

@Michael G That would be neat. But then I would really be exposed!
Francine

By: Michael G

Michael G — Thu, 02 Jul 2009 16:02:18 +0000

Hey fm:

Should I start a wikipedia page about you?

Best,