Comments on: Dreaming Of India: PwC and Satyam

By: Satyam Settles; PwC Left In Lurch - Francine McKenna - Accounting Watchdog - Forbes

Mon, 07 Mar 2011 23:53:15 +0000

[...] the scandal started in January 2009 with Raju’s confession, PwC global leaders have visited numerous times, claimed to be victims themselves, made several appeals to the Indian media including trying to [...]

By: Is PwC Conspiring To Evade Liability For Frauds In Iceland and India? - Francine McKenna - Accounting Watchdog - Forbes

Tue, 14 Dec 2010 17:58:20 +0000

[...] the two PwC partners responsible for the Satyam audit were thrown in jail, PwC global leaders visited India numerous times, claimed to be victims themselves, made several appeals to the Indian media including trying to [...]

By: re: The Auditors » Blog Archive » PwC “Restructures” Indian Consulting Business: Will It Be Enough To Preserve US and UK Interests?

Tue, 13 Jul 2010 03:13:00 +0000

By: 007CPA

007CPA — Fri, 24 Jul 2009 17:41:36 +0000

Read this article: http://www.webcpa.com/news/Ernst-Young-Pay-Negligent-Audits-51126-1.html

Big thing I took away from it is that even though there are these huge lawsuits out against all the major firms, it looks like they are getting cut down to much smaller sizes. With rulings like this EY one and the BDO one, it’s going to be harder for juries to award big settlements in these trials.

By: Anonymous

Anonymous — Fri, 24 Jul 2009 14:55:21 +0000

@fm

Thank you for following up and clarifying your relationship with Carter. In my opinion, the context you just provided is valuable. It states why you feel you know Carter well enough to comment, but also gives readers the context to decide if we agree with you.

As I said, you’re welcome to do what you like with your blog. I, personally, find fact based reporting + your opinion as a commentator infinitely more valuable than just opinions alone.

Again, thank you.

By: fm

fm — Fri, 24 Jul 2009 14:30:04 +0000

@10 Actually I had to go back and really think about whether I had met Carter Pate in person. I know in the comment to my October 2008 post I said I had never met him. After reviewing my notes from my time with PwC in 2005-2006 I believe I did meet him two times and worked on issues he was responsible for during this time. Given his responsibility for the Federal Services Practice, and all of my involvement with them, I feel like I know him very well.
Francine

By: Tenacious Truman

Tenacious Truman — Fri, 24 Jul 2009 14:00:54 +0000

sean in dc -

You seem resistant to Fran’s explanation of her comment — and you are clearly misinterpreting what she wrote. (Deliberately so?)

For the third time: her comment was not a personal attack, but was instead related to her perceptions regarding any role Mr. Pate may have played in the India audit scandal. Yes, she could have been more clear. But a reasonable reading would not lead one to the conclusions you’ve apparently jumped to.

Also: I think you, like many others, seem to believe that your ideas regarding standards to be applied to a personal blog have relevance. I follow several blogs — this is one of my favorites because of my background — and let me expain to you that your perceptions regarding the “acceptable” level of discourse don’t really apply. As has been posted elsewhere, on this blog as well as other blogs, if you don’t like what you read, you are free to create your own blog where posts are “based on facts” and see how many people visit your site. Do post here to let me and others know when you’re ready for us to visit. I promise to check it out and give you objective and constructive feedback, feedback that is fact-based even though entirely based on my subjective impressions.

To conclude, you strike me as somebody with a chip on your shoulder, looking to find fault when in fact there isn’t much fault to be found. Best wishes on your blog!

– Tenacious T.

By: Anonymous

Anonymous — Fri, 24 Jul 2009 13:52:57 +0000

@fm

“…I have met Carter Pate and dealt with him professionally, I am entitled to comment on him personally.”

When is it that you met Carter and dealt with him professionally? In your posting on on October 16th, 2008 at 5:42 pm you said,

“Actually I never met Pate.”

It is your blog. You’re entitled to comment on whatever you like regardless of how well you know him. Just think you paint with broad brushes sometimes that make your statements incredibly misleading to those that are uninformed. In my opinion, you seek to entertain the disgruntled alumni of the Big 4 rather than inform and educate an industry.

By: sean in dc

sean in dc — Fri, 24 Jul 2009 11:50:44 +0000

I have met carter multiple times in business and social settings. He is extremely bright and a is always thinking about the long term plan. I agree that he most likely did not have that much influence over the actions that you are accusing PwC of, but, to assume this is a risk. You are picked for national roles and told about the promotion that will come long in advance of them actually taking place. I agree you are welcome to your opinions,I just expect more from you than petty comments like “he is nothing”. As the owner of an oft-read blog about a popular field, I would think you would want t
o save pettiness for personal conversations and give information and opinions that are based on facts.

Respectfully,

Sean

By: fm

fm — Fri, 24 Jul 2009 02:48:17 +0000

@Sean in DC

Since Pate is a senior, public leader now and I have met Carter Pate and dealt with him professionally, I am entitled to comment on him personally. What is your knowledge of him? Have you read my post about him?
http://retheauditors.com/2008/10/pwc-advisory-leadership-the-bundler-ascends/

But my comment that he is “nothing” was in reference to the PwC/Satyam scandal. I may be mistaken, but he is too new in his role and too insular to have been involved in what I will soon be saying probably really happened.
Francine