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Satyam's auditors PWC in more trouble over GT Bank a/c
February, 10th 2009

Already under the scanner in the Satyam scam, more trouble awaits auditors Pricewaterhouse Coopers (PWC).

The Institute of Chartered Accountants of India (ICAI) has found two partners of PWC being involved in professional misconduct in yet another case.

The findings of the disciplinary committee is in connection with the Global Trust Bank (GTB) collapse case.

GTB's audit was handled by Lovelock and Lewes, an associate of PWC. However, the auditing firm has denied any link with the GTB audit.

The Reserve Bank of India had complained to ICAI in 2004 after finding differences in its own numbers on Global Trust Bank and the financial statements given by the bank's audit firm.

ICAI President has said that punitive action against the auditors would be taken only after they've been given a chance to speak at ICAI's next council meeting.

 
 
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