SEC fines PwC over reporting and independence

The regulator found PwC had engaged in ‘improper professional conduct’ by performing prohibited non-audit services and breaching the independence rules in connection with 15 SEC-registered audit clients.

PwC partner Brandon Sprankle, who has been with the firm for over 20 years, has also been charged for causing the firm’s independence violations.

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The Fourth - Deloitte

Big Four fail in one in five audits The world’s four biggest accounting firms have been exposed for botching at least 20% of their audits following an inspection by the Public Company Accounting Oversight Board (PCAOB). In the most recent annual inspections of the Big Four, inspectors discovered Deloitte botched 20% of audits examined, PricewaterhouseCoopers […]

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The government investigator charged with examining the collapse of the three Icelandic banks, Ólafur Þór Hauksson, has confirmed that 22 policemen and six French and Norwegian accountants have raided the offices of KPMG and PricewaterhouseCoopers (PwC) in Reykjavik, seizing documents and computer data as part of an investigation into alleged criminal activity. Although the targets are the […]

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The Accountancy and Actuarial Discipline Board (AADB) has announced that it will investigating  PricewaterhouseCoopers LLP and its staff in relation to its role as auditor to struggling sub-prime lender Cattles Plc. As previously reported on Manifest-I, Cattles  has sacked six directors since March, when it discovered a £700m accounting discrepancy at its Welcome Financial Services […]

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