Comments on: PwC to fail?

By: michael webster

michael webster — Sat, 21 Feb 2009 19:37:38 +0000

Nice story, I posted indirectly to on my own blog.

You are right about the problem "they are trying to argue global brand but local organization. It’s a fundamental inconsistency that goes ot the heart of what it means to be a global firm."

I believe one way to tackle this problem is by using franchising as the corporate vehicle, and I wrote about it here: http://www.bizop.ca/blog2/due-diligence/franchise…

Be interesting to see who will fail first: PWC or Deloitte.

By: Dennis Howlett

Dennis Howlett — Fri, 20 Feb 2009 00:26:12 +0000

There are a few of us who are trying to amplify the issues and I am starting to see mainstream press picking up on the issues. PwC is in a really bad place on this because they are trying to argue global brand but local organization. It's a fundamental inconsistency that goes ot the heart of what it means to be a global firm.

PwC has already effectively thrown its Indian partners under the bus. The question is whether the firm as a while can survive in that jurisdiction. DiPiazza was out there schmoozing like crazy at government level suggesting they are deeply concerned.

As you said, the upcoming lawsuits are going to be horrific and that is what will determine the final outcome.

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Thu, 19 Feb 2009 23:20:10 +0000

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By: Hugh P. Quinn

Hugh P. Quinn — Thu, 19 Feb 2009 22:52:00 +0000

I agree with you that Andersen's demise was a travesty. For at least the past 30 years, Andersen was considered among the best, if not the best, of the Big Eight. I was quite surprised that it went down based upon the actions of a just a couple of their employees and partners. When comparing what those Andersen partners did with what the PwC partners in India have done, I don't think there is any doubt that the Satyam fraud is far and away the more egregious. I real question is whether the location of the actions means more than the actions themselves. In other words, I believe that had the PwC partners committed their actions in the U.S., then PwC would be in dire straits. Furthermore, it would be all over the press. In contrast, because the actions took place in India, there is barely a whisper in the media about either Satyam or PwC (at least here in the U.S.). Just my thoughts.

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Thu, 19 Feb 2009 10:44:46 +0000

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