Just a day after the PM announced a new agency to check the misdeeds of Chartered Accountants, PwC the auditing giant of India have been drawn to the court of laws for manipulating the books of accounts.
Ex-Chief Financial Officer of PricewaterHouseCoopers Private Limited (PwCPL), Sarvesh Mathur filed a complaint against the firm in the court of laws. He alleged that the Chairman of the firm helped him to adjust Rs. 5 crores outside the system, whereas the previous chairman backdated the invoices of Rs.93 crores by an accounting year to evade the impact of taxes.
Sarvesh Mathur is not the first person to raise this issue. Justice A P Shah also raised the same issue before few days when he said that violations by PwC member firms in India represents only the tip of the ice-berg and if left un-addressed will pose serious threats to public interest and national security. In his letter to the Prime Minister, Justice Shah had questioned PwC’s integrity and competence to render audit and advisory services to clients, including the government.