Not even a year after pledging to stand by the side of its Japanese affiliate, PricewaterhouseCoopers announced that the doors to its Misuzu Audit Corp. firm would close, after revelations of the unit’s ties to a second scandal surfaced.
Misuzu, one of Japan’s Big Four accounting firms and part of PwC, said that it faced penalties stemming from its work for brokerage house Nikko Cordial, which faces record fines for accounting fraud, and possible delisting by the Tokyo Stock Exchange.
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