http://www.itmweb.com/f012002.htm
Excerpt:
3. Law firm to hire one of the big 6, but not Arthur Andersen or PricewaterhouseCoopers due to their conflicts of interest: AA & Co. (Enron); PWC (LJM).
http://www.sourcewatch.org/index.php?title=PricewaterhouseCoopers
Excerpt:
New York, NY 10017
Phone: 646-471-4000
Fax: 813-286-6000
Web: http://www.pwcglobal.com/
http://www.accountancyage.com/aa/news/1759986/newsflash-coopers-lybrand-price-waterhouse-merge
Excerpt:
http://www.whistleblower.org/program-areas/international-reform/world-bank/satyam-scandal
Excerpt:
http://en.wikipedia.org/wiki/Big_Four_(audit_firms)
Excerpt:
The Big Four are the four largest international accountancy and professional services firms, which handle the vast majority of audits for publicly traded companies as well as many private companies, creating an oligopoly in auditing large companies. The Big Four firms are shown below, with their latest publicly available data:
This group was once known as the "Big Eight", and was reduced to the "Big Five" by a series of mergers. The Big Five became the Big Four after the demise of Arthur Andersen in 2002, following its involvement in the Enron scandal.
http://acct.tamu.edu/giroux/bigeight.html
Excerpt:
http://en.wikipedia.org/wiki/Satyam_scandal
Excerpt:
On 10 January 2009, the Company Law Board decided to bar the current board of Satyam from functioning and appoint 10 nominal directors. "The current board has failed to do what they are supposed to do. The credibility of the IT industry should not be allowed to suffer." said Corporate Affairs Minister Prem Chand Gupta. Chartered accountants regulator ICAI issued show-cause notice to Satyam's auditor PricewaterhouseCoopers (PwC) on the accounts fudging. "We have asked PwC to reply within 21 days," ICAI President Ved Jain said.
On the same day, the Crime Investigation Department (CID) team picked up Vadlamani Srinivas, Satyam's then-CFO, for questioning. He was arrested later and kept in judicial custody[1].
http://www.esginsider.com/?p=102
Excerpt:
Although the dark cloud of the US federal court may have dissipated over Satyam, their accountants PricewaterhouseCoopers LLP will continue to fight legal action from US-based shareholders. The Indian government has also indicated that it may look to revoke PwC’s license to operate in India.
PwC’s complicity in the fraud is a contentious issue. Despite Mr. Raju diligently and very publicly falling on his own sword, PwC have been criticised for not spotting the erroneous figures, running into billions of dollars in total, after 9 years of responsibility over the IT giant’s accounts.
http://www.sourcewatch.org/index.php?title=Portal:Real_Economy_Project
Excerpt:
The big banks on Wall Street have blown a hole in the economy that will take many years to repair. Since the recession began in December 2007, the number of unemployed Americans has risen to 16 million, Americans are losing health care and foreclosures are still rising. We are in a big hole and it is going to take big ideas to climb out of it.
This is the portal page to a collection of editable wiki profiles of the bankers, financial companies, lobbyists, and front groups related to the financial crisis and the bank bailout. You can help us build this library and document the people and policies behind the financial crisis by visiting the "Help Out" section below. Don't let the Banskters write the history of this tumultuous time in America!(About/contact)
The Big Eight Six Five
Who Are They?
In 19th century Britain and (primarily) 20th centurn America accountants set up shop. Basically, the original names were the founding partners.William Deloitte established his firm in London in 1845 (the first Big Eight), Charles Haskins & Elijah Sells opened for buiness in New York in 1896 (the first American Big Eight). These were not the first nor, at the time of founding, the biggest. But over time they became the most successful. Generally, their clients were the largest firms and the accounting firms grew to provide needed client services. They formed corresponding relationships with other accounting firms across the country and across the globe as their clients expanded. Many of these firms would be acquired by the larger firms. The partners in charge were serious about the profession and provided leadersip in forming state and national societies and recommending legislation to license accountants--after appropriate training.
The Founders
Arthur Andersen (1885-1947) - In 1913 Arthur Andersen and Clarence Delaney, both from Price Waterhouse, bought out The Audit Company of Illinois to form Andersen, Delaney & Co. It became Arthur Andersen & Co. in 1918. Andersen Consulting split from the parent in 1989 to become the largest consulting firm in the world.
William Cooper - William Cooper opened his London office in 1854. He was joined by three brothers to form Cooper Brothers & Co. in 1861. Coopers & Lybrand merged in 1956.
William Deloitte - William Deloitte founded his London firm in 1854. Deloitte began collaborating with Haskins & Sells in 1905 and the firms merged in 1978. Deloitte merged with Touche Ross in 1989.
Alwin & Theodore Ernst - The Ernst brothers formed a partnership in Cleveland in 1903. Ernst & Ernst affiliated with Whinney in 1924 and they merged in 1979. Ernst & Whinney merged with Arther Young in 1989.
Charles Haskins (1852-1903) - Charles Haskins began a New York practice in 1886. He worked with Sells on the Dockery Commission in 1895 (on financial reform of the federal government) and they became partners that same year. Haskins & Sells began collaborating with Deloitte, Plender, Griffins in 1905 and the firms merged in 1978. DH&S merged with Touche Ross in 1989.
William Lybrand, Adam & Edward Ross, & Robert Montgomery - Their firm was founded in 1898 in Philadelphia. They merged with Cooper Brothers in 1956 to form Coopers & Lybrand.
James Marwick James Marwick opened an office in Glasgow in 1887 and New York in 1896. He formed a partnership with Roger Mitchell in 1897, which merged with William Peat in 1911. In 1986 PMM merged with KMG (for Klynveld Main Goerdeler) Main Hurdman to form KPMG Peat Marwick.
William Peat - William Peat founded his company in London in 1867 and merged with Marwick, Mitchell in 1911.
Samuel Price - Samuel Price and Edwin Waterhouse formed a partnership with William Holyland in 1849 in London. In 1890 Price Waterhouse established a permanent New York office in 1890 as Jones, Caesar & Co. They merged with Coopers & Lybrand in 1998.
Elijah Sells - Elijah Sells formed a partnership with Charles Haskins in 1895.
George Touche - George Touche (originally Touch--rhymes with clock) formed a partnership with John Niven in 1900 in London; later Touche, Niven, Bailey & Smart; Touche, Ross, Bailey & Smart; shortened to Touche Ross in 1969. Merged with Deloitte in 1989.
Edwin Waterhouse - Edwin Waterhouse formed a partnership with Samuel Price in 1849 in London. Merged with Coopers Lybrand in 1998.
Frederick Whinney - Frederick Whinney joined the London firm of Harding & Pullein in 1849, latter Whinney, Smith & Whinney. Merged with Ernst & Ernst in 1979 and Arthur Young in 1989.
Arthur Young - Arthur Young was a Scottish barrister and opened a Chicago office in 1894 to handle the affairs of British investors. Merged with Ernst & Whinney in 1989.
The Big 8 in 1960 Firm Partners- 1960 U. S. Offices Foreign Countries Audits of 500 Largest Corporations
Arthur Andersen 171 33 21 47
Ernst & Ernst 132 107 37 63
Haskins & Sells 176 58 42 61
Lybrand, Ross Bros. & Montgomery 126 43 27 52
Peat Marwick 190 87 55 61
Price Waterhouse 101 46 55 110
Touche Ross 71 31 34 26
Arthur Young 104 40 51 44
Now Only Five
Arthur Andersen
Deloitte & Touche
Ernst & Young
KPMG Peat Marwick
PriceWaterhouseCoopers
HOME
Excerpt:
3. Law firm to hire one of the big 6, but not Arthur Andersen or PricewaterhouseCoopers due to their conflicts of interest: AA & Co. (Enron); PWC (LJM).
http://www.sourcewatch.org/index.php?title=PricewaterhouseCoopers
Excerpt:
Lobbying
The company spent $3,333,500 for lobbying in 2006. In-house lobbyist as well as six lobbying firms were used including Patton Boggs and Clark & Weinstock. [4]Personnel
Key executives: [5]- Samuel A. DiPiazza Jr., Global CEO and Global Board Member
- Richard L. Baird, Global Co-Leader, People
- Marie-Jeanne Chèvremont-Lorenzini, Global Co-Leader, Human Capital
Contact details
300 Madison Avenue, 24th FloorNew York, NY 10017
Phone: 646-471-4000
Fax: 813-286-6000
Web: http://www.pwcglobal.com/
http://www.accountancyage.com/aa/news/1759986/newsflash-coopers-lybrand-price-waterhouse-merge
Excerpt:
http://www.whistleblower.org/program-areas/international-reform/world-bank/satyam-scandal
Excerpt:
In 2008, a series of cyber-intrusions at the World Bank raised concerns about the security of international financial data held at the institution. The Bank’s chief vendor for cyber-security, Satyam Computer Services, Ltd. of India, came under scrutiny as the IT system the company had designed appeared vulnerable. The facts that emerged about the scandal subsequently included a massive accounting fraud, an ineffective World Bank response to the emergency and persistent questions about the integrity of the Bank and its actions. Satyam, a billion-dollar IT outsourcing corporation collapsed under the weight of the fraud in January 2009, and is now known as “India’s Enron.”
Background
In the spring and summer of 2008, the information system of the World Bank suffered a series of cyber intrusions. An e-mail obtained by Fox News showed that a minimum of 18 World Bank servers had been breached, and that of those, five contained sensitive data.
The Bank’s IT services had attracted concern before. For years, the Department of Institutional Integrity (INT), the Bank’s anti-corruption unit, had been investigating the relationship between Mohamed Muhsin, Chief Information Officer at the World Bank until 2005, and Satyam, the Bank’s ‘strategic partner’ in IT systems. In 2005, Muhsin retired under a cloud, as well as under investigation for receiving ‘improper benefits’ from Satyam.
Background
In the spring and summer of 2008, the information system of the World Bank suffered a series of cyber intrusions. An e-mail obtained by Fox News showed that a minimum of 18 World Bank servers had been breached, and that of those, five contained sensitive data.
The Bank’s IT services had attracted concern before. For years, the Department of Institutional Integrity (INT), the Bank’s anti-corruption unit, had been investigating the relationship between Mohamed Muhsin, Chief Information Officer at the World Bank until 2005, and Satyam, the Bank’s ‘strategic partner’ in IT systems. In 2005, Muhsin retired under a cloud, as well as under investigation for receiving ‘improper benefits’ from Satyam.
http://en.wikipedia.org/wiki/Big_Four_(audit_firms)
Excerpt:
The Big Four are the four largest international accountancy and professional services firms, which handle the vast majority of audits for publicly traded companies as well as many private companies, creating an oligopoly in auditing large companies. The Big Four firms are shown below, with their latest publicly available data:
Firm | Revenues | Employees | Fiscal Year | Headquarters | Source |
|---|---|---|---|---|---|
| Deloitte Touche Tohmatsu | $26.6bn | 170,000 | 2010 |  United States | [1] [2] |
| PwC (officially PricewaterhouseCoopers) | $26.6bn | 161,000 | 2010 |  United Kingdom | [3] |
| Ernst & Young | $21.3bn | 144,000 | 2010 | United Kingdom | [4] |
| KPMG | $20.6bn | 138,000 | 2010 |  The Netherlands | [5] |
This group was once known as the "Big Eight", and was reduced to the "Big Five" by a series of mergers. The Big Five became the Big Four after the demise of Arthur Andersen in 2002, following its involvement in the Enron scandal.
http://acct.tamu.edu/giroux/bigeight.html
Excerpt:
http://en.wikipedia.org/wiki/Satyam_scandal
Excerpt:
On 10 January 2009, the Company Law Board decided to bar the current board of Satyam from functioning and appoint 10 nominal directors. "The current board has failed to do what they are supposed to do. The credibility of the IT industry should not be allowed to suffer." said Corporate Affairs Minister Prem Chand Gupta. Chartered accountants regulator ICAI issued show-cause notice to Satyam's auditor PricewaterhouseCoopers (PwC) on the accounts fudging. "We have asked PwC to reply within 21 days," ICAI President Ved Jain said.
On the same day, the Crime Investigation Department (CID) team picked up Vadlamani Srinivas, Satyam's then-CFO, for questioning. He was arrested later and kept in judicial custody[1].
http://www.esginsider.com/?p=102
Excerpt:
Although the dark cloud of the US federal court may have dissipated over Satyam, their accountants PricewaterhouseCoopers LLP will continue to fight legal action from US-based shareholders. The Indian government has also indicated that it may look to revoke PwC’s license to operate in India.
PwC’s complicity in the fraud is a contentious issue. Despite Mr. Raju diligently and very publicly falling on his own sword, PwC have been criticised for not spotting the erroneous figures, running into billions of dollars in total, after 9 years of responsibility over the IT giant’s accounts.
http://www.sourcewatch.org/index.php?title=Portal:Real_Economy_Project
Excerpt:
Toxic Assets Getting You Down?
 | This article is part of the Real Economy Project. Take action at BanksterUSA.org. |
This is the portal page to a collection of editable wiki profiles of the bankers, financial companies, lobbyists, and front groups related to the financial crisis and the bank bailout. You can help us build this library and document the people and policies behind the financial crisis by visiting the "Help Out" section below. Don't let the Banskters write the history of this tumultuous time in America!(About/contact)
The Big Eight Six Five
Who Are They?
In 19th century Britain and (primarily) 20th centurn America accountants set up shop. Basically, the original names were the founding partners.William Deloitte established his firm in London in 1845 (the first Big Eight), Charles Haskins & Elijah Sells opened for buiness in New York in 1896 (the first American Big Eight). These were not the first nor, at the time of founding, the biggest. But over time they became the most successful. Generally, their clients were the largest firms and the accounting firms grew to provide needed client services. They formed corresponding relationships with other accounting firms across the country and across the globe as their clients expanded. Many of these firms would be acquired by the larger firms. The partners in charge were serious about the profession and provided leadersip in forming state and national societies and recommending legislation to license accountants--after appropriate training.
The Founders
Arthur Andersen (1885-1947) - In 1913 Arthur Andersen and Clarence Delaney, both from Price Waterhouse, bought out The Audit Company of Illinois to form Andersen, Delaney & Co. It became Arthur Andersen & Co. in 1918. Andersen Consulting split from the parent in 1989 to become the largest consulting firm in the world.
William Cooper - William Cooper opened his London office in 1854. He was joined by three brothers to form Cooper Brothers & Co. in 1861. Coopers & Lybrand merged in 1956.
William Deloitte - William Deloitte founded his London firm in 1854. Deloitte began collaborating with Haskins & Sells in 1905 and the firms merged in 1978. Deloitte merged with Touche Ross in 1989.
Alwin & Theodore Ernst - The Ernst brothers formed a partnership in Cleveland in 1903. Ernst & Ernst affiliated with Whinney in 1924 and they merged in 1979. Ernst & Whinney merged with Arther Young in 1989.
Charles Haskins (1852-1903) - Charles Haskins began a New York practice in 1886. He worked with Sells on the Dockery Commission in 1895 (on financial reform of the federal government) and they became partners that same year. Haskins & Sells began collaborating with Deloitte, Plender, Griffins in 1905 and the firms merged in 1978. DH&S merged with Touche Ross in 1989.
William Lybrand, Adam & Edward Ross, & Robert Montgomery - Their firm was founded in 1898 in Philadelphia. They merged with Cooper Brothers in 1956 to form Coopers & Lybrand.
James Marwick James Marwick opened an office in Glasgow in 1887 and New York in 1896. He formed a partnership with Roger Mitchell in 1897, which merged with William Peat in 1911. In 1986 PMM merged with KMG (for Klynveld Main Goerdeler) Main Hurdman to form KPMG Peat Marwick.
William Peat - William Peat founded his company in London in 1867 and merged with Marwick, Mitchell in 1911.
Samuel Price - Samuel Price and Edwin Waterhouse formed a partnership with William Holyland in 1849 in London. In 1890 Price Waterhouse established a permanent New York office in 1890 as Jones, Caesar & Co. They merged with Coopers & Lybrand in 1998.
Elijah Sells - Elijah Sells formed a partnership with Charles Haskins in 1895.
George Touche - George Touche (originally Touch--rhymes with clock) formed a partnership with John Niven in 1900 in London; later Touche, Niven, Bailey & Smart; Touche, Ross, Bailey & Smart; shortened to Touche Ross in 1969. Merged with Deloitte in 1989.
Edwin Waterhouse - Edwin Waterhouse formed a partnership with Samuel Price in 1849 in London. Merged with Coopers Lybrand in 1998.
Frederick Whinney - Frederick Whinney joined the London firm of Harding & Pullein in 1849, latter Whinney, Smith & Whinney. Merged with Ernst & Ernst in 1979 and Arthur Young in 1989.
Arthur Young - Arthur Young was a Scottish barrister and opened a Chicago office in 1894 to handle the affairs of British investors. Merged with Ernst & Whinney in 1989.
The Big 8 in 1960 Firm Partners- 1960 U. S. Offices Foreign Countries Audits of 500 Largest Corporations
Arthur Andersen 171 33 21 47
Ernst & Ernst 132 107 37 63
Haskins & Sells 176 58 42 61
Lybrand, Ross Bros. & Montgomery 126 43 27 52
Peat Marwick 190 87 55 61
Price Waterhouse 101 46 55 110
Touche Ross 71 31 34 26
Arthur Young 104 40 51 44
Now Only Five
Arthur Andersen
Deloitte & Touche
Ernst & Young
KPMG Peat Marwick
PriceWaterhouseCoopers
HOME
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