PriceWaterhouse on Wednesday said its Bangalore unit audited the accounts of scam-hit Satyam Computer and was now cooperating with a probe by regulator SEBI, thus quashing reports that it was distancing itself from the multi-crore accounting fraud.
China and India's advantages such as lower costs and greater market opportunity outweigh the higher risk compared with the more established and mature regulatory regimes of Australia, Japan and Singapore.
In connection with the multi-billion dollar Satyam scam, the US auditing watchdog has barred from public practice two Indian auditors associated with the IT firm's former auditor PriceWaterhouseCoopers.
According to a new survey conducted by consultancy major PriceWaterhouseCoopers, about 28 per cent of Indian financial services firms expect to buy stakes in European groups in the next five years and the same percentage intend to enter North America. "Overseas acquisitions by industrial groups such as Tata Steel, Hindalco, Tata Motors and Ranbaxy are clearly proving inspirational," PwC said in its report.
Former Chief Financial Officer Vadlamani Srinivas has also filed a bail plea in the court.
India's entertainment and media (E&M) industry may grow by 10.5 per cent cumulatively next five years, to touch Rs 92,950 crore (Rs 929.50 billion), a PriceWaterhouseCoopers report said on Wednesday.
India spends only 20.7 per cent of its total health expenditure on public health services, far less than Bangladesh, China and Pakistan, which contribute 25 per cent, 34.9 per cent and 45 per cent respectively, a study revealed.
With information security becoming a big issue around the world, the number of security breaches has shown a massive increase in India.
The valuation for the unit has been carried out by PriceWaterhouseCoopers and finalised by the board committee comprising all the independent directors.
A questionnaire sent to Price Waterhouse was not answered.
The highest salary rose by 14.22 per cent from last year.
Price Waterhouse, an Indian arm of the global consultancy firm PricewaterhouseCoopers, whose partners got embroiled in the Satyam accounting fraud, failed to get a reprieve from the stock market regulator, the Securities and Exchanges Board of India.
ICAI starts proceedings against software firm's CFO and head of audit cell.
DiPiazza's visit coincides with Price Waterhouse suspending two of its partners -- S Goplakrishnan and Srinivas Talluri -- who worked on the accounts of scam-hit Satyam Computer Services and were arrested last week.
PricewaterhouseCoopers, an advisory and consulting firm whose sister company audited the accounts of Hyderabad-based Satyam Computer Services, has a chequered past with Indian tax authorities, having admitted its "mistake" in at least two cases of tax evasion.
A bench headed by Chief Justice P Sathasivam said the issues raised in the plea need 'examination' and issued notice to the Centre, RBI, Central Board of Direct Taxes, the Institute of Chartered Accountants of India, PwC and the audit firms sharing its brand name.
Budapest ended its bid to host the 2024 Olympics on Wednesday, citing a lack of unity after a political movement opposing the move collected more than a quarter of a million signatures to force a referendum on the issue.
Globally, the estimated average financial loss from cyber incidents was $2.7 million, a 34-per cent increase over 2013.
'IIM Ahmedabad has seen one of the best placement seasons ever and this change can be attributed to the markets opening up after the pandemic.'
CBI has also summoned a senior official of Reliance Industries Limited and a noted chartered accountant.
A small Ahmedabad-based chartered accountancy firm, whose appointment was questioned by a US short seller in its scathing report against the conglomerate run by billionaire Gautam Adani, has resigned due to "pre-occupation", Adani Total Gas Ltd said. Hindenburg Research in its January 24 report that levelled allegations of fraud, stock manipulation and money laundering against the Adani group, had also raised the issue of the size and capability of the firms auditing the conglomerate. Adani group has repeatedly denied all allegations.
Action against auditors, last of the 276 recommendations of a JPC probing Ketan Parekh scam, is still pending.
While there are no specific data for money that could be of Indians, this includes outflows to the tune of 100 billion Swiss francs that are related to fine payments in the context of declaration of untaxed money, as per a new study by PwC.
For the region to realise its full potential, New Delhi needs to start looking at the land-locked northeast as an important starting point in India's 'Act East' policy, says Nitin Gokhale
Automobile makers in India are embracing taxi-hailing apps such as Uber and Ola, hoping to ride on their expansion to sell more cars, a contrarian view to companies in Western markets that fear a drop in car sales due to them
Firm makes disclosures of improper transactions worth Rs 1,225.3 crore with entities linked to beleaguered businessman
Micron plans an assembly testing, marking and packaging project of $1 billion, and talks are on to set up a memory chip plant for captive requirements.
The agency did not seek a reappointment in FY12.
Last Saturday, USL board asked its Chairman Vijay Mallya to quit.
Bain alleges that it invested around $60 mn based on false financial statements that EY had audited and certified
