Brand Update

Desi Brand

Price Waterhouse Achievements, are they looking for more...??

1. Dell, Inc. litigation On January 31, 2007 PwC was named as a co-defendant in a class action lawsuit filed against Dell, the world's number two PC manufacturer. Taken on behalf of shareholders, the lawsuit alleges that Dell, and its auditors, failed to disclose information about Dell's financial condition.
2.Tyco settlement In July 2007, PwC agreed to pay $225 million to settle a class-action lawsuit brought by shareholders of Tyco International Ltd over a multibillion-dollar accounting fraud.
3. Global Trust Bank, PwC fail to detect huge levels of NPA of the bank. The NPA had accumulated due to massive exposure made by the erstwhile bank into the stock market which PwC is alleged to have overlooked.
4. DSQ collapse
5. Satyam , it was again PricewaterhouseCoopers who certified that Satyam's balance sheet carried figures for cash and bank balances of Rs 5,040 crore, as of 30 September 2008, against Rs 5,361 crore reflected in the books.

On 15 march, 2008, the Reserve Bank of India has withdrawn the blanket ban imposed on the international audit and consultancy firm PricewaterhouseCoopers (PwC) from auditing banks and non-banking finance institutions.

Also, in Japan Chup Aoyama PricewaterhouseCoopers was banned by the country’s regulator. Then, PwC floated a new company called Arata to take up audit assignments with new partners. The Satyam case has a parallel in the 2005 book-keeping fraud at the Japanese cosmetics and textiles maker, Kanebo, where again the auditor was Chuo Aoyama PwC.
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