I have worked in a third-grade infrastructure company in India. Everyone in top management (including founder) was corrupt. Their business practices were always about bribing, siphoning off investors money, inflating assets, money laundering and so on. When it was trying to go public, it hired one of 'big 4' to do the auditing and other due diligence. Once it went public, that agency was fired (2 years after going public). With in 6 years, that company became bankrupt.
Everyone knew that one of 'big 4' was hired to make the prospects of going public legit and credible. That consulting firm made things look right in exchange of big bucks.
Everyone knew that one of 'big 4' was hired to make the prospects of going public legit and credible. That consulting firm made things look right in exchange of big bucks.
reply