[ca.harsh.punjabi]

Deepak i particularly dint like the blog u have posted as a CA i can understand what those reports mean coz i have prepared dozens i think u really need to Understand that while an audit is conduted the auditor does not proceed to conduct an audit with a possiblity of a fraud in mind coz if he does that the whole purpose of verifyin the Fairness and accuracy gets defeated as he will have to look into each and every transaction which is clearly not feasible and also not desirable

plus "Sufficient & Appropriate Audit Evidences" do not mean that they represent the complete picture the auditor generally places 3rd party confirmations ona higher pedestal than the interna mgt representations to place reliablity and this is what has happened these very 3rd party confirmations have been forged u can read ET dated 14jan09 and may be then u can understand my point

Although i m not from PWC but as a CA i needed to explain all this