App access to phone data/setup

This may seem an odd question given the number of Apps people use?
When installing Apps you have to give permission for all sorts of access from your contacts to network setup, etc.
A recent App I went to install wanted access not only to the usual array of stuff but also to have the ability to create/delete accounts, create/delete folders and info (gallery etc.) as well as modifying network access and sending sms on my behalf.
Now this wasn't some obscure App but a popular Office type App with thousands of downloads and I simply don't see the need for that degree of access and consequently did not install the App.

My question is; has anyone ever experienced odd or unauthorized activity on their phones after giving an App such access?

Thanks