A Festivus miracle! After we raised concerns last month that the likelihood of any PwC office having a Christmaskuh bash was nil, we’re now aware of at least one jamma-lamma-ding-dong:
Okay, it’s just the tax practice and it’s only two hours but hey, it beats the hell out of an ordinary Tuesday. Those in the audit practice will just have to crash the thing.
A word of caution however: with everything that’s gone on up in Stamford don’t knock back the Glens or white wine with anyone you don’t trust. Who knows what somebody is dropping in your cocktail.
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Satyam Would Like the U.S. Lawsuits Moved to India, Oh, and PwC Would Like to be Left Out Altogether
Satyam wants the U.S. Courts to kindly BTFO of business that should be handled in India. Specifically these silly fraud lawsuits.
Besides, PW India has already said that they want to bury the hatchet, so they feel that this whole will be best handled in the Eastern Hemisphere:
In a court filing yesterday, the software-services provider said it was joining a motion by its auditors, Price Waterhouse and Lovelock & Lewes, to dismiss the American fraud suits brought by investors.
“This case belongs in India,” the auditors wrote. “Satyam’s alleged billion-dollar fraud, as well as the allegedly improper audit, took place in India. Virtually all of the defendants are India-domiciled companies or individuals.”
P. Dubs India and Lovelock want the whole thing dropped since they were acting on the honor system. Annnnnnnd, since PwC International doesn’t have control over any of the individual firms they’d like it very much if the judge just dropped them out of this thing too:
PricewaterhouseCoopers International Ltd. said it should be dropped from the case because the investors failed to show it had control over its Indian member, Price Waterhouse, as is required by U.S. securities law.
From the looks of it, no PwC firm wants to be responsible for anything that went wrong with Satyam even though they signed the audit report. Fine, so can we agree that audit opinion was worthless? That’d be great.
Satyam Says U.S. Fraud Suits Must Be Moved to India [Bloomberg]
Stressed Out PwC Partner Was Criticized By Fellow Partners for Being a Total Pansy
On Monday we briefly mentioned the unfortunate case of Colin Tenner, a former PricewaterhouseCoopers partner that is suing the firm for disability discrimination. He is claiming that after he took a leave from the firm after “mismanagement by PwC and bullying by a client,” after which, negotiations for him to return to the firm fell apart and he was let go.
Now the Times Online is reporting some of the feelings of Tenner’s fellow partners. In January 2007, Mr Tenner took sick leave for a couple of days and that did not sit well with his fellow partner Hugh Crossey:
While Mr Tenner was on sick leave in January 2007, his managing partner, Hugh Crossey, e-mailed a third partner to say that he had heard that Mr Tenner was ill again and that the firm needed to point out that “real partners simply do not get sick”, it was alleged.
Depression? Anxiety? Apparently those aren’t real sicknesses, according to Hugh. But wait! Hugh wasn’t the only ones that thought Tenner was a total wuss. The tribunal also heard that a member of PwC’s “partner affairs team” (which probably has nothing to do with treating people like whores) wrote to the firm’s chief medical officer (?) “that there was a ‘very strongly held view that [Mr Tenner] was not as unwell’ as he claimed.” So not only is he total sissy, he’s also a faker.
Tenner claimed that his health had deteriorated to the point that it led him to “actively research ways of committing suicide,” although he actually never made any attempts on his own life.
PwC maintains that this mental health thing is all bullshit, sticking with the standard communiqué, “We believe that his claim is completely without merit and we will vigorously contest it.”
PwC manager told Colin Tenner ‘real partners do not get sick’ [Times Online]