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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Those of us familiar with Disney’s “Herbie” film series were perhaps not at all surprised at the recent travails to have hit VW. After all, if their cars can be intelligent enough to compete on their own in rally-car races, surely rigging the odd emissions test or two would be simple to do? Back in […]

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Sir David Walker’s review of the governance of UK banks, commissioned by Prime Minister Gordon Brown, has published 39 recommendations aimed at improving the governance of  banks and other big financial institutions (BOFIs). The aim of the report was to find ways of minimising risky behaviour and improving the way companies and shareholder communicate and interact. Many of the […]

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The dominance of the Big 4 audit firms continues to be a cause for concern according to a report by the UK’s reporting and governance watchdog, the Financial Reporting Council. The FRC has published the third of its Progress Reports outlining the progress of the 15 recommendations made by the Market Participants Group (MPG) in October 2007 […]

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Partner for Financial Stability has released its latest finding on reporting quality in Central and Eastern Europe, noting a significant increase in the number of CEE blue chip companies issuing stand-alone English-language environmental, social and governance (ESG) reports. The number of companies offering an English report has now reach 41 compared with 28 companies in September 2008. In […]

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