Pricewaterhouse finally acts on Satyam

CXO Today is reporting that Pricewaterhouse India has finally acted on the errant partners from its Hyderabad office:

Former Satyam auditors – PriceWaterhouseCoopers (PWC) have said that S. Gopalkrishnan and Srinivas Talluri have been suspended of all their duties and functions as PWC partners till the investigation into the Satyam scam is completed.

I’m surprised it has taken PwC this long to get its act together. The partners concerned are accused of major crimes and should have been suspended the moment they were taken into custody. Should we be surprised?

Francine McKenna noted that when she tried to prise information out of PCAOB and PwC’s US offices she got a polite but firm ‘no comment.’ As she said at the time:

So, as well as having no defense at either the Indian, US, or international level to this damning development, Pricewaterhouse Coopers LLP US and the US regulator have no PR spin either.

Spin is more than I would expect but a statement to shore up public opinion surely needs to be made? Or perhaps the rot is too deep even for PwC’s PR machine to figure?

Image courtesy of Robert Amsterdam

UPDATE: The FT is reporting that Sam DiPiazza, global head of PwC has rushed to Mumbai

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Tagged as: Francine McKenna, india, PricewaterhouseCoopers, Pwc, Satyam Computer Services