Part 2 – PwC is hiding fraud, here is the evidence!
By Zarinah Paycut
On the 2nd of May, 2009, the Business Section in The Star newspaper carried an article titled “When Speed Counts” under the byline of its Deputy Business Editor, Errol Oh. The entire article may be read here.
In part 1, we showed that PricewaterhouseCoopers Consulting Sdn Bhd (464379-U) is audited by Roger Yue, Tan & Associates.
One of the shareholders cum Directors in PricewaterhouseCoopers Consulting Sdn Bhd (464379-U) is Dato’ Johan Raslan, the Executive Chairman of PwC Malaysia.
Ironically, Dato’ Johan Raslan is also a member of the Securities Commission of Malaysia’s Corporate Governance Consultative Committee.
So the SC charges an auditor in court for abetting a client in submitting false information , but at the same time, a member of the SC’s Corporate Governance Committee is using the very same auditor for a company, PricewaterhouseCoopers Consulting Sdn Bhd (464379-U), in which he is a Director/shareholder. A company whose very existence is fraudulent.
The high profile Enron and WorldCom financial scandals saw the enactment of the Sarbanes-Oxley Act of 2002 in the USA, in order to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise.
