March 20th in Uncategorized by jason2009 .

PwC imports staff to review audits

PricewaterhouseCoopers has said it will bring in partners from abroad to review audit procedures of Indian clients to prevent another situation akin to the Satyam accounting fraud Hyderabad-based IT outsourcing company Satyam.

Global PwC chief Sam DiPiazza, who this week announced he is stepping down from the role after 35 years with the firm, said that a program had been put in place to ensure audit quality was currently under review and involved a number of partners and staff from firms …

Charles Tyrwhitt UK
 

PricewaterhouseCoopers has said it will bring in partners from abroad to review audit procedures of Indian clients to prevent another situation akin to the Satyam accounting fraud Hyderabad-based IT outsourcing company Satyam.

Global PwC chief Sam DiPiazza, who this week announced he is stepping down from the role after 35 years with the firm, said that a program had been put in place to ensure audit quality was currently under review and involved a number of partners and staff from firms outside India.

Earlier this month the firm in India said it was overhauling its leadership following the discovery of a $1bn (£0.7bn) black hole in the accounts of Satyam, which it audits.

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