Australia will drastically toughen penalties against promoters of dodgy tax schemes and beef up regulatory powers under reforms announced on Sunday in response to a scandal over the use of leaked fiscal plans by PwC Australia. The leak of the …
PwC Australia’s sale of its government consulting business may give it temporary respite from a crisis in its tax practice but is unlikely to repair its toxic brand in the country anytime soon, according to experts. PwC said on Sunday …
The administrators of NMC Health PLC have filed a lawsuit against EY in the United Kingdom for alleged negligence on the audit work it did for the troubled hospital operator between 2012 to 2018, a spokesperson said. NMC, which used …
LONDON – Britain’s accounting regulator said on Monday it has opened investigations into the audits of Greensill Capital and Wyelands Bank as regulatory scrutiny of the companies intensifies. Wyelands Bank is owned by steel tycoon Sanjeev Gupta’s metals-to-finance empire GFG …
BERLIN – German lawmakers presenting a report Tuesday into the collapse of the payment processing company Wirecard accused the country’s finance minister and auditors Ernst & Young of numerous oversight failings. Wirecard filed for protection from creditors through insolvency proceedings …
LONDON – Company directors would become personally liable for the accuracy of their financial statements under landmark proposals from Britain’s finance ministry next week to improve corporate behavior, sources familiar with the plans said on Friday. Directors would have to …
MUNICH – German prosecutors on Friday opened an investigation into partners at EY who audited Wirecard , after an accounting watchdog filed a report accusing them of criminality in their work for the failed payments company. A spokeswoman for the …
Germany’s coalition parties have agreed a package of reforms to financial and accounting rules aimed at avoiding another Wirecard scandal, a document seen by Reuters shows. Lawmakers launched a parliamentary inquiry in an effort to force the government to reveal …
Ukraine’s largest bank, PrivatBank, said on Monday [April 1] it had filed a $3 billion lawsuit against the Ukrainian and Cypriot subsidiaries of international accounting firm PwC for alleged breaches during audits of the lender in 2013-2015. It is the …
PricewaterhouseCoopers LLP has settled a $3 billion negligence lawsuit over the October 2011 collapse of MF Global Holdings Ltd, the futures and commodities brokerage once run by former New Jersey governor Jon Corzine. Terms were not disclosed, but the malpractice …
