Not too much explanation needed. E&Y auditors at the Emmys. Leave your caption suggestions in the comments. We’ll run a poll next week with the best submissions.
Related Posts
Phil Mickelson 9 Box Update
Fill had a less than ideal first round, shooting +2, which is seven shots behind the leader. On the one hand, he’s well on his way to not winning the tournament. On the other, he’s well on his way to not finishing second.
Check our initial rating if you need to get caught up.
So after not considering a hell of a lot, we’ve come up with Fill’s new ranking:
Check out where the Radio Station billboard falls, after the jump
As you can see, Fill has dropped from the relative safety of SP5 to the less than acceptable position in NI7. He teed off at 9:35 EDT so Radio Station employees can waste their entire Friday watching Fill try to step it up.
Discuss the current ranking in the comments and if by chance you’re at the tournament following Fill, let him know that Going Concern (and Tim Flynn) would like to see more out of him today.
Why Are People at Big 4 Firms So Elitist? A Rant
Here’s a fun one from Fishbowl today: Thankfully someone pointed out how bizarre it is […]
Dennis Nally: PwC’s Credibility with Our Clients Is Doing Just Fine, Thankyouverymuch
Awhile back we told you about PricewaterhouseCoopers Global CEO Dennis Nally admitting that the PwC brand had been damaged because of the whole Satyam fraud.
DN has done another interview with the Indian press and he says despite this lit ng is on the up and up in India for PwC. The long/short of it is that Dennis & Co. are going to keep giving their clients the P. Dubs experience now and forever.
Pretty wide range of questions but we’ve presented the highlights for you.
Was the PwC Magic 8ball broken?
Q: When you look back at it do you think you could have avoided all that happened?
A: I don’t know if we could have avoided it. As we all know this was probably one of the most significant frauds that suddenly has taken place here in India but even in the global market place. So I do not know how you avoid that type of situation.
Where was the P. Dubs swagger when the shit hit the fan? Did you realize that everything was f’d and didn’t know what to do?
Q: [T]he firm didn’t seem to respond in a confident manner. The impression was that it didn’t know what it had been hit by. Do you think it could have been handled better?
A: I think with hindsight you can always do things better and that is part of learning and trying to deal with issues. But quite frankly this was a major event and of course it took us time to understand the pattern and what transpired.
In fact we are still learning and everybody is still learning. Now all the facts aren’t quite out yet but I think we are in the business of being out in the public and when something like this happens and it happens in a negative way, we are part of that. That is just a reality of being in a profession that we are involved with.
Why is this PwC’s fault?
Q: What role did the auditors have to play?
A: You are into an interesting debate and discussion because what is the role on a professional standards for the detection of a fraud. That is one of the areas that has been the focus not only on Satyam but a broader profession wide issue and we certainly welcome that debate.
I think there is an expectation out there in the public that auditors uncover every single fraud that they are involved with and that is not what professional standards call for but there is the public perception that that is what we are there to do. I define that as the expectation gap. If that is the expectation then we need to make sure that we are focused on the right kind of procedures, the right kind of standards, the right kind of reporting which is quite frankly really different than what we do today.
Will you stop all future frauds in India forever and ever and ever?
Q: Can you tell us if India will never see a Satyam again?
A: I wish I had a crystal ball but I don’t. As I said when you have a situation like Satyam or a major fraud I suspect somewhere in the world of corporate reporting, you are going to see another situation like that. Our job is to make sure we are doing everything we can possibly do consistent with the standards that are out there to ensure that we play our role in that process to avoid them.
The new India managing partner came from Singapore? You got something against Indians?
Q:But he has not come from India, you didn’t appoint him from the India firm – he was brought in from Singapore?
A: Gautam is originally from India which is great so it’s little bit of coming home programme.
Q: But it’s not a vote of confidence on the India management?
A: It is not. This is all about ensuring that we get the very best talent to focus on an important market like India and that’s exactly what we have done.
You let everyone down. Speak to them!
Q: A word to all those investors who felt disappointed with PriceWaterhouseCoopers for not alerting them to what was going on in Satyam. What is your message to them today?
A: Whenever we have situation like this, right or wrong, whatever standards are we are part of that and for that we regret what has happened. But this firm is about quality. It’s about doing the right things, it’s about being here for the investor community and we are very much focused on that.
Satyam fiasco has not dented credibility with clients: PwC [Money Control]