Afghan President Hamid Karzai Has A Problem With Vault's 201

by Derek Loosvelt | April 12, 2011

  • My Vault

Earlier today, Vault Consulting Editor Sam Reynolds pointed out that Afghan President Hamid Karzai is pretty ticked off at PricewaterhouseCoopers and Deloitte.

Karzai has apparently claimed that both firms' accounting and consulting services are shoddy at best, and that the two were "partly responsible for Kabul Bank's corruption woes." Karzai also "promised that 'whoever was involved in leading the bank into crisis, all of those people will be brought to justice.'"

In addition, the prez noted that PwC -- Kabul Bank's auditor, which Karzai qualified as "the most prestigious American audit firm," perhaps winking toward Vault's latest Accounting Rankings -- "had only recently passed Kabul Bank as fit and functioning properly despite clear encountering evidence to the contrary."

Meanwhile, according to The New York Times, "some Western officials are worried that employees at A.F. Ferguson, PwC's Pakistan-based affiliate that executed the audit, were bribed to ignore obvious discretions at the bank."

(Vault: Afghan President Issues Deloitte, PwC Threats)

Filed Under: Finance

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