Tip of the iceberg? PwC has a long history of controversies in India

Capital-market regulator Sebi's ban on Pricewaterhouse from auditing in India for two years for its role in the Satyam Computer Services scam is not the only problem for global auditing firm PwC that operates in a network of entities in India. PwC and its related entities in India Below is a listing of major issues and its entities have landed in recent times:

he Sarvesh Mathur case
Sarvesh Mathur, who was CFO of PricewaterhouseCoopers Private Ltd (PwCPL) between 2008 and 2011, filed a defamation suit in July last year accusing his erstwhile employer of cooking books, evading tax, willfully breaking several laws and then intimidating, cheating and tarnishing his name When he refused to help cover-up the white-collar crimes He alleged in his complaint that the company falsified its accounts on several occasions, destroyed evidence and lied to government officials. In one instance in 2010, the complaint says, a PwCPL senior official helped adjust Rs 5 crore "outside the system". A PwC spokesperson had denied the allegations, saying, "This is a long series of defamatory attempts made against PwC by individuals who seem to be acting in consort with a sole purpose to harass and bring the name of PwC under disrepute. "

Justice Shah's letter
In July last year, the former Chief Justice of the Delhi High Court, AP Singh wrote to Prime Minister, questioning PwC's integrity and competence to render audit and advisory services to clients, including the government. He listed several instances of violations by auditor PwC and its partner companies Justice Shah, writing on behalf of Citizens Whistle Blowers Forum said, "... violations by PwC member companies in India probably represent the tip of the iceberg and if left un-addressed will pose serious threats to public interest and national security." PwC had said at that time that it had always complied and will continue to comply with applicable laws and regulations and any suggestion to the contrary was just speculative.


MP Kirit Somaiya's complaint
In March last year, ruling BJP's Lok Sabha MP Kirit Somaiya posted on a Twitter document, according to PwC network for its alleged role in various scams related to Global Trust Bank, Satyam, and Vijay Mallya / Kingfisher Airlines / UB Group . He claimed that a joint parliamentary committee had recommended PWC for its alleged role in the Global Trust Bank scam.

Leaking of official documents

An official of PwC came under CBI scanner in connection with the alleged sale of confidential government documents on foreign investment policies by corporate groups, PTI reported in March 2015. It cited CBI sources as saying that during the questioning of five arrested persons in the Case, it had come to light that an official of PwC was allegedly acquiring documents from the Department of Economic Affairs, under the Finance Ministry, through Khemchand Gandhi, Chartered Accountant, arrested by the agency. The confidential documents related to foreign direct investment