PricewaterhouseCoopers announced that it will create a new audit firm in Japan after an alliance with a partner was ordered to halt auditing services for two months.
"A permanent new and independent audit firm is being created in Japan," PwC said in a statement, even as the Big Four firm promised it would maintain a partnership with ChuoAoyama Audit Corp. ChuoAoyama, which employs 2,500 people, is a member firm of PwC and recently received penalties for poor supervision of its staff.
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