Ukraine Yanks PwC’s Bank Audit License

PwC fdic colonial

From the Financial Times, the National Bank of Ukraine “announced it had pulled [PwC’s] domestic bank auditing rights for failing in prior audits to identify a $5.5bn balance-sheet hole at PrivatBank, the country’s largest lender.” Look for a press release stating that the annexation of Crimea was totally legal from the firm in the coming days. [FT]

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PwC Settles with FDIC for $335 Million Over Colonial Bank’s Epic Collapse

Well, this was some news I really wasn’t expecting today. FDIC as Receiver for Colonial Bank, Montgomery, AL, reached a $335 million settlement with PricewaterhouseCoopers LLP related to professional negligence claims. Colonial Bank failed on August 14, 2009. https://t.co/W2ohFNCvRe — FDIC Gov (@FDICgov) March 15, 2019 Here is the full statement from the FDIC: The […]