PwC | Global news | Accounting

An overview of PwC global news:

China

PwC braces for severe regulatory penalties in China over Evergrande scandal The Chinese arm of PwC is bracing for significant regulatory penalties following its involvement in auditing the troubled property developer Evergrande.
22 August 2024
United Kingdom

PwC set to return as Sainsbury's auditor Reports in the British press suggest supermarket giant Sainsbury’s is set to re-appoint PwC as its auditor. The move would come a decade after the firm was replaced in the role by Big Four rival EY.
13 March 2024
Australia

Are audit and tax next in inadvertent PwC Australia break-up? With the planned divestment of its government consulting business, will PwC Australia inadvertently achieve what EY and government regulators couldn’t at the global level, breaking apart the Big Four
28 June 2023
Canada

KPMG Canada hit with $1.4-billion lawsuit over Bridging Finance collapse PwC Canada, the receiver for Bridging Finance, is suing KPMG Canada for $1.4 billion over alleged deficiencies in the firm’s auditing of the private debt manager, which collapsed in 2021.
20 April 2023
United Kingdom

PwC receives £1.7 million fine for BT audit Big Four firm PwC has picked up a million-pound find for failings relating to its audit for BT Group.
06 September 2022
United Kingdom

Big Four foisting 'high risk' clients onto smaller competitors The Financial Reporting Council has found that the Big Four’s auditing function has collectively improved for two consecutive years.
28 July 2022
United Kingdom

PwC probed over audits of construction groups Kier and Galliford Try As the UK’s accounting watchdog attempts to pressure the UK’s top accounting firms over a decline in standards, it has launched a new investigation into two PwC auditing contracts.
23 February 2022
South Africa

Deloitte supplies top chartered accountancy candidates this year Four of the top twelve candidates in the 2019 Chartered Accountant (CA) assessments in South Africa are from Deloitte.
11 March 2020
India

PwC and Deloitte to hold back non-audit services from audit clients Big Four accounting and advisory firm’s PwC and Deloitte have both announced that they will no longer offer non-audit services to their existing audit clients, reports the Economic Times (ET).
18 February 2020
South Africa

BTMT Capital CEO recognised for outstanding achievement by Forbes Finance publication Forbes has recognised Chief Executive of financial advisory firm BTMT Capital Busisiwe Mdletshe for her extraordinary road from a life of limited means to remarkable success in th
07 February 2020
Australia

PwC responds to ASIC criticism with external audit quality board PwC Australia has installed an audit quality board, consisting of three external members, including the former Auditor-General Ian McPhee.
19 December 2019
United Kingdom

Labour pledges to take on Big Four audit "cartel” The Big Four of PwC, KPMG, Deloitte and EY could face an audit-sector overhaul, should the Labour Party win the 2019 general election.
29 November 2019
United Kingdom

PwC to replace rival KPMG in ITV audit role Following the news KPMG was not competing to continue in its role as ITV’s external auditor, rival PwC has swooped to pick up the valuable accounting contract.
27 November 2019
South Africa

PwC Africa CEO on efforts to restore trust in auditing While many have spoken of the need to rescue the auditing profession in South Africa, the South African Auditing Profession Trust Initiative (SAAPTI) is taking concrete steps to ensure that the indus
20 November 2019
United Kingdom

EY and PwC also sold consulting work to Thomas Cook Big Four audit and advisory firms PwC and EY have come under scrutiny for selling consulting and accounting services to Thomas Cook in the lead up to the company’s collapse.
05 November 2019
South Korea

PwC Korea leader appointed to new accounting education panel The International Federation of Accountants has appointed PwC Korea’s Choi Dhal to its new International Panel on Accountancy Education.
27 August 2019
United Kingdom

PwC wins tender to replace rival KPMG at Cineworld Cineworld has selected PwC to replace KPMG as external auditor following a tender process launched to keep the company “in accordance with good corporate governance policy on audit rotation.” The move comes s
28 June 2019
United Kingdom

PwC stung with fine for 'serious lack of competence' In a startlingly blunt assessment of PwC’s accounting work for Redcentric, the UK’s auditing watchdog has said the firm exhibited a “lack of competence”, before slapping a fine of more than £4 millio
20 June 2019
Malaysia

BDO and Big Four partner with ACCA / Sunway for audit simulation course Malaysia’s Sunway TES Centre of Accountancy Excellence together with the Association of Chartered Certiﬁed Accountants have held the first international installation of their joint Global Audit Simul
20 June 2019
United Kingdom

Accounting error adds £40 million to Kier Group debts Global construction company Kier Group has announced it has an additional £40 million of debt, following an accounting error.
14 March 2019
United Kingdom

PwC criticised for alleged conflicts of interest auditing Staffline PwC has been accused of ignoring conflicts of interest at a listed audit client, at which two senior members of staff were former members of the Big Four firm.
06 March 2019
Australia

Big Four accounting and consulting firms booming in Australia The Big Four professional services firms – EY, Deloitte, KPMG and PwC – are enjoying a sustained boom in Australia.
12 February 2019
United Kingdom

PwC uses drone to assist audit in global first Big Four firm PwC has piloted the use of a drone for an audit of a client in the energy sector, in a global first for the firm.
07 January 2019
United Kingdom

CMA calls for audit market cap but stops short of Big Four break-up The Big Four audit and advisory firms face an unprecedented limit to their market share, following the conclusions of a probe by the UK’s competition ombudsman.
17 December 2018
United Kingdom

Big Four rivals outline recommendations for changing UK audit market Some of the UK’s largest auditing and advisory firms have called for changes to the UK accounting scene, ahead of the Competition & Markets Authority’s industry probe.
22 November 2018
United Kingdom

Big Four accounting firms brace for competition probe from CMA As pressure continues to mount on the top figures of the auditing and advisory industry, the dominance of the Big Four in the accounting arena will now be the subject of a landmark competition probe.
15 October 2018
United Kingdom

Big Four firms wary of Sports Direct's hunt for new auditor As competition rules have led to Grant Thornton having to stand aside as the auditor of Sports Direct, the retail group has been left struggling to replace the firm.
19 September 2018
United Kingdom

PwC steps back from Wasps role over 'falsified' information Big Four firm PwC has resigned as auditor for Wasps Holdings, a group best known for its ownership of Wasps Rugby.
09 July 2018
United Kingdom

PwC fined and Partner banned from accounting over BHS audit Following an investigation into the collapse of British retailer British Home Stores, PwC and a former Partner of the firm have been fined on the grounds of ‘misconduct’.
29 June 2018
United Kingdom

Big Four maintains dominance of FTSE 100 and 250 audits Despite building pressure on watchdogs and UK lawmakers to break up the Big Four, the top accounting and advisory providers remain dominant in the UK auditing market after the first quarter of 2018.
04 June 2018
United Kingdom

PwC partners Northern Trust to launch blockchain audits Big Four professional services firm PwC has partnered global asset management company Northern Trust to launch a new blockchain-based auditing system.
22 March 2018
United Kingdom

Financial professional services could add £16 billion in taxes by 2025 UK accounting and legal firms paid £15.5 billion in taxes last year.
30 October 2017

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