Price Waterhouse, the auditing arm of consultancy firm PwC India, is the auditor for 77 companies listed on National Stock Exchange of India, according to data from Prime Database. Fifty-four firms hired Price Waterhouse as their auditor in 2017-18 because of mandatory auditor rotation required under the Companies Act. The Sebi order also asked Price Waterhouse, Bengaluru, and two senior partners—S. The two partners have been barred from auditing listed firms for three years. To be sure though, PwC’s insolvency practice comes under a different head and is not linked to the audit practice under Price Waterhouse.

Source: Mint January 12, 2018 02:26 UTC