Chinese authorities are examining the role of PricewaterhouseCoopers LLP in China Evergrande Group’s accounting practices after the developer was accused of a $78 billion fraud, ramping up pressure on the global accounting giant that audited a slew of developers before …
Britain’s accounting regulator on Thursday fined KPMG a record 21 million pounds ($26 million) for a “textbook failure” in audits of Carillion, the builder that imploded in 2018 and prompted a root and branch review of auditing standards. The collapse …
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 …
A $4 billion accounting shortfall would typically raise alarm bells for an auditor. Somehow, a PricewaterhouseCoopers LLP affiliate didn’t catch it at Americanas SA. Investor and consumer groups are calling for closer scrutiny of the accounting firm after the unveiling …
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 …
KPMG LLP was sued for 1.3 billion pounds ($1.8 billion) by the administrators of defunct UK contractor Carillion Plc. over allegations its audits were negligent and misleading. The UK’s Official Receiver, acting on behalf of Carillion’s creditors, accused KPMG of …
Britain’s accounting watchdog said on Wednesday it has fined Ernst & Young LLP 3.5 million pounds ($4.80 million) over the audit of transport firm Stagecoach Group’s financial statements in 2017. The Financial Reporting Council (FRC) said Mark Harvey, the auditing …
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 …
Britain proposed weakening the market grip of “Big Four” auditors on Thursday and making company directors responsible for spotting fraud after the collapses of retailer BHS and builder Carillion. Directors would have to repay their bonuses if the company went …
