PriceWaterhouse Coopers – PwC India is the Auditor of Satyam Computers which let the $1 bn scam happen under its nose.
Some of the companies mentioned below might come under pressure as they have Auditor as PwC.
Colgate Palmolive, Coromandel Fert
Cummins India, Gateway Distpark
GlaxoSmith C H L, GMR Infra.
Graphite India, HCL Infosystems
HCL Technologies, Hinduja Ventures
Info Edge (India) ,Infotech Enterprises
Ingersoll-Rand, Jagran Prakashan
Kesoram Inds, Lanco Infratech
Marico, Maruti Suzuki
Mastek, Max India
Moser Baer (I), Motherson Sumi
NDTV, NIIT, NIIT Tech.
Piramal Healthcar, Religare Enterprises
Satyam Computers, Simplex Infra
United Breweries, United Spirits
UTV Software & Co, Glenmark Pharma and Novartis India.
Price Waterhouse ( PWC ) are 100% business minded people. They try to get more works apart from regular audit viz., special audit/systems audit/SOX compliance etc from a client. Their focus is mainly on the above areas rather than advising the client.
In this situation where is the time for them to conduct a good and valuable audit. So dont Blame PWC unnecessarily as their agenda is different.
My suggestion is rather than targeting the Big 4, why not we create BIG 20 in India to invite the attention of International Business community.