Price Waterhouse, under attack for overlooking the Satyam fraud, has lost its mandate as the knowledge partner for Ficci's flagship annual entertainment event -- FRAMES that will now have KPMG as its partner.
While Ficci officials said that parting of ways with Price Waterhouse was not related to the Satyam episode, sources said all business chambers have become wary of associating with those getting infamy from the country's largest corporate fraud.
"From this year, Ficci has partnered with international auditing firm KPMG for FRAMES," a senior chamber official said.
Brining out a comprehensive report on India's $10 billion media and entertainment sector is one of the mandates of the Ficci's knowledge partner for the event that takes place in Mumbai amidst a galaxy of Bollywood stars and personalities.
KPMG Head of Information, Communication and Entertainment, Rajesh Jain said," We have already worked with Ficci for FRAMES."
