PwC Draws the Short Straw

It's bad enough that P. Dubya has got this whole Satyam mess going on but now this?

The Financial Times is reporting that P. Dubs has taken up the suicide mission task of monitoring aid being sent into Somalia.

PwC, the world’s biggest accountancy firm, is making a move into the world’s worst failed state. Somalia’s interim government has asked PwC to bring bookkeeping discipline to a country where lawlessness has reigned for nearly two decades.

Not sure what compelled PwC to take on this particular task, perhaps its the undying commitment to being the utmost Global Corporate Citizen, perhaps its potential fulfillment of some partners' life-long dream to become pirates. WTFK?

Based on the FT's story, it could be that P. Dubs is just plain a-okay with the highway to the danger zone, "PwC has undertaken similar work monitoring donor payments in Afghanistan and Sudan. It declined to discuss details of the Somalia project, citing client confidentiality and security issues."

Sounds like PwC has already got spies working for them and just don't tell the whole universe, like some firms.

Oh, and there is money involved. The firm will "receive a commission of between 2 per cent and 4 per cent on all funds that reach their intended destination." The most recent aid pledge of $67M would get P. Dubya a commission in the nabe of $1.3M.

So it's not a total loss. The over/under on kidnapped/murdered employees will prob be two? Maybe three?

Somalia hires PwC to monitor aid [FT.com]

Sphere: Related Content

Reiteration of Previous Unfounded Rumor About KPMG

Apparently the wheels of hierarchy turn slowly at the Radio Station...

As previously mentioned here, rumor now is it that word has just been passed down to managers from the big dogs that no pay increases and no bonuses for FY '09.

Discussions regarding the freeze may have started as early as March. Sphere: Related Content

Audit Fees, Follow up

A reader reminded me that it also really pisses off audit staff when fees go up but the salaries go nowhere, as reported here. Sphere: Related Content

Tramp Weekend: Unfounded Rumor That's Probably True About KPMG

The house of Klynveld is FREEZING pay for rest of this fiscal year. Those getting promoted usually get a bump in the summer and then a little boost at fiscal year end (Sept 30 for the Radio Station). Yeah, well not so much this year. No raises in the summer and no raises at the end of the fiscal year for anyone.

Heavy drinking and massive red meat consumption may now ensue. Sphere: Related Content