PwC is hiding fraud, here is the evidence!

ARCHIVES 2010
By admin-s

Why would the largest Auditing Firm in the country, PwC Malaysia, which does the audits for more than a hundred public listed companies and many important corporations, have Senior Partners, Chin Kwai Fatt & Co, who use the services of an auditor who has been charged by the SC for clear cut fraud, as their own Auditors?
 

By Zarinah Paycut

On the 28th of April 2009, the Securities Commission charged the engagement partner of Roger Yue, Tan & Associates for abetting a listed company in submitting false information (inflated earnings) to Bursa Malaysia.


Charged for abetting a listed company in submitting false information to Bursa Malaysia


Who will hire an Auditing firm known and charged for releasing false information, in this case inflated earnings(something Enron was famous for), a fraudulent firm, as their own Auditors? 

This is who, Chin Kwai Fatt & Co, a gallery of ‘rogues’ in PwC!
1. Mr Chin Kwai Fatt, the Managing Director of PricewaterhouseCoopers Malaysia, the largest auditing firm in this country. Mr Chin is the man who controls PwC Malaysia. Mr Chin, who went to Tan Sri Zarinah Anwar’s, the Chairman of the Securities Commission, home for dinner, and got his man appointed as the Director of the Audit Oversight Board, is also very close to the firm of Roger Yue, Tan & Associates.



Mr Chin Kwai Fatt, MD of PwC Malaysia.

 2. Dato’ Johan Raslan, the Executive Chairman of PricewaterhouseCoopers Malaysia. A man who follows what Mr Chin Kwai Fatt asks of him.

Dato’ Johan Raslan, Executive Chairman of PwC Malaysia



3. Mr Lee Tuck Heng, Senior Partner in PricewaterhouseCoopers Malaysia.



Mr Lee Tuck Heng, seated third from left.



4. Mr Khoo Chuan Keat, Tax Leader and Senior Executive Director in PricewaterhouseCoopers Malaysia.
Mr Khoo Chuan Keat, Tax Leader and Senior Executive Director in PwC Malaysia
Roger Yue, Tan & Associates are the auditors for PricewaterhouseCoopers Consulting Sdn Bhd (464379-U), the company which is under the directorship of  Mr Chin Kwai Fatt, Dato’ Johan Raslan, Mr Lee Tuck Heng and Mr Khoo Chuan Keat as the Secretary.
PricewaterhouseCoopers Consulting Sdn Bhd (464379-U), whose Directors are Mr Chin Kwai Fatt, Dato Johan Raslan and Mr Lee Tuck Heng, with Mr Khoo Chuan Keat as its Secretary, are using a tainted firm as their own Auditors.



The Shareholders for PricewaterhouseCoopers Consulting Sdn Bhd are Dato’ Johan Raslan and Mr Lee Tuck Heng, with Mr Khoo Chuan Keat signing off as the Secretary.

Why would the largest Auditing Firm in the country, PwC Malaysia, which does the audits for more than a hundred public listed companies and many important corporations, have Senior Partners, Chin Kwai Fatt & Co, who use the services of an auditor who has been charged by the SC for clear cut fraud, as their own Auditors.?

Wouldn’t it be expected that the biggest auditing firm in the country will only use the auditing services of untainted auditors for any and all of their businesses? Unless….there is something that they need hidden perhaps?

Read more at: http://zarinahtakesapaycut.blogspot.com/2010/12/pwc-is-hiding-fraud-here-is-evidence.html



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