PwC: follow the money

by admin on May 26, 2009

in Featured

pwccontribI’m a great believer that in unraveling any scandal that one should always follow the money. Earlier today, Francine McKenna took one heck of a swipe at PwC, accusing it inter alia of:

1) PwC is denying to its own partners the kind of work it’s getting ready to do for clients and the additional risk the firm will be exposed to. PwC leadership is soliciting their obeisance, in the end, for the glory and enrichment of a few partners for only a little while.

2) Potential ‘Advisory’ clients are being told by analysts and via other public relations efforts that PwC is a viable choice for systems integration/implementation projects.  PwC is now actively recruiting SAP, Oracle, and other technical specialists as well as planning on acquiring them from BearingPoint. This is despite the fact that PwC still isn’t being honest with itself about whether it’s in the systems integration business or not, to what extent, and for how long.

This was in the context of Satyam. It goes on but you’ll need to click through to read the whole bloody mess. What is surprising about this is that it doesn’t seem to cross legislators minds that the obvious conflicts of interest exist. Time and again governments continue to re-appoint the same firms when time after time we see project failure.

What about the money then? It should come as no surprise that PwC is the largest firm contributor to lobbying activities in the US. And why was DiPiazza, PWC’s CEO spending so much time in India? Was it to go on bended knee to save the firm? More likely to save the lucrative government work it has out there, even when it fails to make the grade. As I said…follow the money.

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