Indian professionals uncovered

There have been a series of recurring questions for those of us circling around the endless stream of material coming out of India following the Satyam debacle. Some answers emerged in this article that seeks to make it easy for the lay person to understand how the profession is structured and governed in India and how that compares to the global environment. The emphasis is on the Big Four as one might expect but both BDA and Grant Thornton get mentions.

There are some salty riffs on what it means to be a Big Four player:

Other than access to methodologies, training and quality standards, as Jairaj Purandare, Executive Director, PwC, points out, the Indian affiliates get access to the firm’s global clients when they do business in India. However, the One Firm concept becomes a double-edged sword when a local affiliate is pulled up for accounting wrongdoings. For instance, PwC will have to face the heat in the US because of its Indian firm’s involvement in the Satyam fraud (that Satyam is listed on the New York Stock Exchange opens it to a string of Class Action Suits).

Read on…

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