More skeletons in PWC's cupboard

The Satyam scandal has helped to bare more cases of professional misconduct by chartered accountants of auditor firms Pricewaterhouse Coopers and its partners, including Lovelock and Lewis.

Five years after the collapse of Global Trust Bank, the disciplinary committee of the ICAI has found that two auditors of  Price Waterhouse partners in India and one auditor of PWC itself were involved in ''professional misconduct''in the Global Trust Bank case as well.

PWC's Gopalakrishnan, who was involved in the Satyam case, has been found guilty of professional misconduct in the Global Trust Bank case by the disciplinary committee of the Institute of Chartered Accountants of India.

 The other two auditors, who have been found guilty by the committee in the GTB case, are Price Waterhouse partner P Ramakrishna and Lovelock & Lewes employee Manish Agarwal, reports quoted ICAI president Uttam Agarwal as saying.

ICAI will discuss the disciplinary committee report at its council meeting in March, the ICAI chief said on Monday, adding that punitive action will be taken against the erring auditors depending upon the gravity of their offenses.

The disciplinary committee had given the findings to ICAI in the GTB case relating to three financial years from 2000-01 to 2002-03.