




Big troubles
India’s big accounting firms apparently like to go out of their way to court controversy. Barely had the turmoil at A.F. Ferguson over the Tata Finance issue cooled down, when we saw multiple exits and realignments at another big one — Ernst & Young — that dragged on for a long time. Things have now settled down at E&Y, but trouble has erupted elsewhere. Another of the Big Four accounting firms is not setting an example that anyone would wish to follow. Office politics and factionalism have reached the point where partners have been fired with two hours notice. The firm apparently wanted to ensure that these officials don’t walk away to a rival but have their careers destroyed. The Heads of Audit and Corporate Finance got the axe, as did a couple of directors who were originally poached from a rival. A few lawsuits and the public washing of dirty laundry seems to be in the offing.


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