Sunday, January 25, 2009
Pricewaterhouse Coopers Auditors Arrested
Over Satyam fraud inquiry. Pricewaterhouse Coopers is a huge company and actually audits 40 percent of companies in the FTSE 100 Index. They audit everyone from aerospace & defence contractors to general retailers and chemical goods manufacturers. Scary news.
IMO: I understand that "Satyam" is truth (or ultimate truth) in Sanskrit, the "language of the Gods". And it is not the Gods who are lying, it is PWC, generally taken as a US multinational. Bad for India and bad for us all. The US elites depend on companies like PWC to understand what is going on in big organizations. If PWC is compromised, that means the US elites are effectively flying blind, like Madoff. What price the greenback now ?
Over Satyam fraud inquiry. Pricewaterhouse Coopers is a huge company and actually audits 40 percent of companies in the FTSE 100 Index. They audit everyone from aerospace & defence contractors to general retailers and chemical goods manufacturers. Scary news.
IMO: I understand that "Satyam" is truth (or ultimate truth) in Sanskrit, the "language of the Gods". And it is not the Gods who are lying, it is PWC, generally taken as a US multinational. Bad for India and bad for us all. The US elites depend on companies like PWC to understand what is going on in big organizations. If PWC is compromised, that means the US elites are effectively flying blind, like Madoff. What price the greenback now ?
# posted by uv : 1:20 PM
Subscribe to Posts [Atom]
