The CFTC’s action against PwC probably came as a result of a shocking CME Group announcement late Wednesday: “It now appears that the firm [MF Global] made … transfers of customer segregated funds in a manner that may have been designed to avoid detection.” These transfers, CME Group said, appeared to have taken place after its audit team showed up last week at MF Global to take a look and found everything to be in order. CME Group couldn’t have been hoodwinked like that if PwC had been doing its job all along. You can’t circumvent controls unless there are none or there are holes. It was PwC’s job to review controls and the adequacy of policies and procedures to support them. [Francine McKenna/AB, Earlier]
Related Posts
Older Job Seekers Denied Class-Action Status in Age Discrimination Lawsuit Against PwC
- Jason Bramwell
- July 30, 2018
A federal judge in San Francisco rejected class-action status to a group of up to […]
Share this:
Who’s Going to Make Honest Capital Market Servants Out of These PwC Interns?
- Caleb Newquist
- August 16, 2012
Last week we mentioned that many interns were doing happy dances after learning that none […]
Share this:
(UPDATE) PwC Did Not Foresee the Sexting Phenomenon
- Caleb Newquist
- February 11, 2010
We heard a rumor today that PwC is currently renegotiating their cell phone contract because, yes, they underestimated the amount of texting that would be done by employees on work phones. Foiled by Gen-Y again!
We realize it’s hard to believe that the numero uno Trainer would somehow not educate its people to avoid sending hundreds of sexually explicit messages to the person in the next row when they simply could have pull together some instructions on cubicle sex. This would have alleviated at least some of the problem.
Well it’s too late now, you randy fools. You’ve no doubt cost the firm millions in charges because you couldn’t compose yourselves.
On the other hand, who were the geniuses sitting around 300 Mad trying to figure out what the texting plan was right for P. Dubs? We know Bob Mortiz wasn’t in on it. Did they consider the fact that PwC employees might be a bunch of savages that would be spending every waking hour sending photos and dirty limericks to their spouses and FWBs?
We understand that firms are trying to save money these days but jesus, it’s common sense to spring for the unlimited texting plan.
UPDATE, Friday, Feb. 12th: We heard back from a source who shared this:
I think they give us something like 100 a month (not positive) which doesn’t affect me, but some people in my office laugh about how much they go over.
Let’s say it is 100 a month. Depending on your prowess, one sexting encounter could conceivably use up a whole month. Someone tell PwC Ops (or whoever is in charge of these things) to go for the unlimited plan.