PwC Banned From Auditing In India For 2 Years

PwC is facing a 2 year ban in India. During this ban they will not be able to audit any Indian listed company. This ban was handed out by the Indian Securities and Exchange Board. The ban will go into effect on March 31, 2018.  This ban relates to PwC's audit of Satyam. Satyam collapsed in 2009 due to faulty accounting practices. PwC will also have to pay $2 million in fines.  Over 2,000 of PwC's audit employees might be impacted by the fine. 40% of PwC's business in India relates to auditing.  To read more about this, visit our website at  https://big4accountingfirms.com/the-blog/pwc-banned-auditing-india-2-years/ To take our big 4 interview course, visit the following link: https://big-4-accounting-firms.teachable.com/p/big-4-interview To leave us a review on itunes and to subscribe to our podcast on itunes make sure to visit the following link. https://itunes.apple.com/us/podcast/the-big-4-accounting-firms-podcast/id1089822233?mt=2 Make sure to check out both of our books in the amazon book store at Big 4 Interviews questions http://amzn.to/2y1ZQ1o Big 4 Accounting Firms Recruiting guide http://amzn.to/2wWjD3K Follow us on social media at https://www.linkedin.com/company/big4accountingfirms https://twitter.com/exchequer https://www.facebook.com/thebig4accountingfirms/ https://www.instagram.com/big4accounting/ https://www.youtube.com/thebig4accountingfirms Contact us with ideas for podcast at https://big4accountingfirms.com/about-us/