pricewaterhouse

Audit firm Price Waterhouse has filed a suit against former chairman of Satyam B Ramalinga Raju and others claiming damages of Rs 100 crore for 'deliberately' concealing key information that led to the Rs 14,000-crore accounting fraud. A day after Tech Mahindra-acquired Satyam filed a suit against its former Board of Directors, certain employees and Price Waterhouse seeking damages for perpetrating a fraud three years ago, PW officials revealed that they have already fil.. Full Article

The Supreme Court today issued notices to Subramani Gopalakrishnan, partner of the global auditing firm PriceWaterhouse (PW) and V S Prabhakar Gupta, internal audit head of scam-hit IT firm Satyam Computers, over a plea by CBI seeking cancellation of their bail granted by the Andhra Pradesh High Court. A bench of justices P Sathasivam and B S Chauhan issued notices to Gopalakrishnan and Gupta directing them to file their replies by April 13. Full Article

To ensure impartiality in adjudication of transfer pricing disputes, the Central Board of Direct Taxes (CBDT) has decided that commissioners associated with transfer pricing orders will not be part of the alternate dispute resolution panel. This panel is being set up by CBDT to resolve disputes arising from transfer pricing assessments. Full Article

Accounting regulator ICAI on Wednesday said it will issue fresh notices to PriceWaterhouse, Delhi, in relation to the Satyam scam after the Delhi High Court objected to its action against the firm without any evidence that it was related to PW, Bangalore, the statutory auditors of scam-hit company. Full Article

In the Case of : Partha Ghosh vs. ICAI , Decided By : Mumbai High Court In October 2007, Disciplinary proceedings were initiated against two partners of M/s Pricewaterhouse (PWC) for alleged professional and other misconduct in conducting the statutory audit of Global Trust Bank. The proceedings were based on the findings in the Special Audit report [...] Full Article

The Serious Fraud Investigation Office (SFIO) has initiated probe against 25 individuals and 325 companies related to Satyam. That includes Pricewaterhouse Bangalore, the auditors of the firm. At a time when the government is acting against the auditor in this case, the question that arises now is, will the ICAI act? The new man in [...] Full Article

PriceWaterhouse partners S Gopalakrishnan and Srinivas Talluri have been arrested in the Satyam scam but the Institute of Chartered Accountants of India (ICAI), citing lack of evidence, has taken no action yet. Well, is this regulator effective enough or a mere a rubber stamp for CAs? The PwC partners have been in custody for over [...] Full Article

As government sleuths dig deep into the Satyam quagmire, they have been able to find some of the missing pieces to this sordid jigsaw puzzle. Simultaneously , they have also come up with some new revelations that add to the mystery. Here’s the latest poser: Was Satyam flush with funds in excess of Rs 3,500 [...] Full Article