Abc Firm Essay

674 Words Nov 17th, 2014 3 Pages
1. Satyam scandal
Hauling up auditing major Price Waterhouse India for "routinely" neglecting quality control, the US Securities and Exchange Commission (SEC) on Tuesday sanctioned its five India-based affiliates that formerly served as independent auditors of Satyam Computer Services.

These Indian PwC affiliates have been accused of repeatedly conducting deficient audits of Satyam's financial statements and enabling a massive accounting fraud to go undetected for several years.

As a result, PwC has agreed to pay a USD 6 million penalty, the largest ever by a foreign-based accounting firm in an SEC enforcement action.
In a statement, SEC said investigations revealed that the audit failures by the PW India affiliates -- Lovelock & Lewes,
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3. Burma committed ethnic cleansing against thousands of Rohingya Muslims; 28 children hacked to death and mass graves uncovered.

Burma’s quasi-civilian government was accused of committing crimes against humanity in the Rakhine State for forcibly displacing more than 125,000 Rohingya Muslims, the religious minority. A Human Rights Watch report revealed that authorities denied tens of thousands of stateless Muslims access to humanitarian aid, destroyed mosques, conducted mass arrests and issued a public statement promoting ethnic cleansing. Security forces stood aside and directly assisted Arakanese mobs in attacking and killing Muslim communities. In October, at least 70 Rohingya were killed in a day-long massacre in which 28 children hacked to death. Four mass gravesites were uncovered. The persecution stems from a long internal conflict in Burma essentially emanating from an arbitrary citizenship law passed in 1982 which denies Burmese citizenship to Rohingya on discriminatory ethnic grounds. In recent times, lack of rule of law has led to thousands of Rohingya fleeing the country.

4. North Korea’s large-scale human rights abuses revealed: 120,000 prisoners held in gulags, citizens starved and publicly executed by firing squad.

North Korea’s appalling human rights record is no secret. Following the

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