How Honest Is PricewaterhouseCoopers Barbados?

PricewaterhouseCoopers (PwC) Barbados is part of a worldwide chain of accountants and one of the largest such firms in the world. In the past the big accounting firms were treated like gods. Their word meant everything – but then the big accounting firms started using their reputations for shady deals.

For a while they got away with it – then came 9/11, Enron and a host of other shameful revelations that exposed the unethical actions of the big firms. Remember Arthur Andersen… Enron’s accounting firm?

Remember the collapse of Bank of Credit and Commerce International? Pricewaterhouse facilitated that 20 Billion dollar fraud and they paid heavily in money and a sullied reputation.

Did PriceWaterhouse learn their lesson?

Apparently not.

And what about PwC Barbados? Are they an isolated case in the larger chain… perhaps with a reputation intact?

HA!

Keltruth Blog has the whole nasty story here.

Or… you can just Google “Pricewaterhouse scandals” and see what comes up!

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9 Comments

Filed under Barbados, Corruption, Crime & Law

9 responses to “How Honest Is PricewaterhouseCoopers Barbados?

  1. Pingback: » PwC has other problems besides Nelson’s Canadian $500 million law suit! Keltruth Corp.: News Blog of Keltruth Corp. - Miami, Florida, USA.

  2. John

    Who were the auditors for Trade Confirmers, The Cotton Factory and Plantations Ltd?

  3. Anonn

    Oh dear!
    Axe a funny question..!!

  4. Licky Lickum

    Large audit firms are the biggest frauds in Barbados and the world. Their purpose is to make money by any means necessary. You realize how shoddy their work is when working in the smaller firms and having clients change from the large firms to the smaller firms due to the large firms greed in charging exorbitant fees for doing nothing.

    Financial statements hardly ever balance and notes hardly agree but people stick with them because of their “brand names”. As times get harder people will come to the realization that an audit is an audit and their is better value for money in the smaller firms.

    Is it a coincidence that when a Company switches from one of the big four audit firms to a smaller firm it gets is first Inland Revenue Audit in years or ever. I think not.

  5. Pingback: » Enron, AIG, PricewaterhouseCoopers and today’s Barbados Offshore Companies Keltruth Corp.: News Blog of Keltruth Corp. - Miami, Florida, USA.

  6. ex-big 4

    as someone who used to work at a big 4 i can tell u that these guys change their methodology to suit the particular job, budget and timeframe allocated. also if the company being audited brings in large revenues for the audit firm and something non-kosher comes up it usually just gets lost.

  7. ex clicoite

    Clico and CIB in Trinidad were also audited by PricewaterhouseCoopers. Their audit reports showed a clean bill of health. The Central Bank and the Auditors knew about clico problems for over 4 years.

    See http://www.kycbs.net/PriceWaterhouse.htm

  8. Pingback: » 2006: PwC Fined For Audits of BCCI, “the greatest bank fraud in history” Keltruth Corp.: News Blog of Keltruth Corp. - Miami, Florida, USA.

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