PwC

The dominant accounting firms must do a better job of challenging their clients in order to reach a satisfactory level of audit quality, the industry’s U.K. watchdog said.

The U.K.’s dominant accounting firms must separate their audit units from other operations by June 2024 as the country’s industry watchdog reacts to shortcomings that led to the collapse of several companies.

Britain’s audit industry faces another dent to its reputation as the nation’s accounting watchdog ordered a probe into PricewaterhouseCoopers LLP, Ernst & Young and Oliver Clive & Co.’s work for defunct London Capital & Finance Plc.

Finance execs are concerned about a new wave of infections leading to a further economic downturn, according to a survey Monday from PricewaterhouseCoopers.

Ohio Society of CPAs president and CEO Scott Wiley, PwC US chairman Tim Ryan and Oracle executive director Kimberly Ellison-Taylor discussed the impact of racism on the profession.

Steinhoff International Holdings NV is paying for forensic auditors at PwC to help South African anti-corruption police investigate alleged financial wrongdoing that brought the retailer to the brink of collapse.

Firms, state CPA societies and national accounting organizations are addressing the wave of international outrage and demonstrations sparked by the killing last week of George Floyd, an unarmed African American, by four Minneapolis police officers.

The Public Company Accounting Oversight Board issued inspection reports Monday for the six largest auditing firms in a new format with more graphs and charts.

The founder of U.K. discount retailer Matalan Plc is suing PricewaterhouseCoopers over claims he lost as much as 135 million pounds ($165 million) by relying on advice the accounting firm gave him when he moved to Monaco 20 years ago.

Employees are worried about whether they can return to work safely.