Auditors making a joke out of investors?


#1

So guys first PWC resigned from Vakrangee. Well it didnt hurt Vakrangee coz it was already in coma.

Then Deloitte resigned from Manpasand, share is down over 50%

Then PWC resigned from Atlanta Ltd, share down 20% in one day

Now PWC resigned from Edelweiss today.

What is this happening in stock market? Investors made bakra in all scenarios?


#2

nah … when auditors cant audit properly or find some serious issues they might resign instaed of passing the audit …


#3

too much cooking in our companies.

Auditors can’t take the penalties anymore.


#4

#5

diversification of portfolio is only solution if we cant study stock fully.


#6

I wont blame auditors. I wud blame those hunting “multi baggers” at market tops. Risk & Reward goes together. BTW who coined the word”multi baggers”. I suspect it must be CNBC or ET


#7

When auditor is skeptical of lot of fraud or management put some restrictions on auditor .
The auditor had to resign instead of giving comments on audit report.


#8

More importantly, pwc was banned for auditing listed firms by SEBI.
This was due to pwc carelessness in satyam scam.

That’s what really scares auditors now.
That they can be banned.


#9

All credits go to the current government, previously (Congress rule) there was not a stringent rule for the CAs/Auditors but now they cant escape. Chor companies will be caught more often. These are blessings in disguise.


#10

We may praise the government a lot, but we need to see the timing of it.

All these steps come into picture once the average retailer has been trapped in a multibagger or bull market.


#11

Let’s consider these things also:

  1. LTCG tax, tax on PF (attempted), min balance requirement on savings a/c (which rich people don’t ever care), fuel hike, gas cylinder prices, etc. - for common man
  2. Other side, the benefits, friendly rules to escape from tax, penalty, etc. - for rich people

Let’s for a minute forget politics, political parties, etc and see these things.