Kabul Bank report increases pressure on PwC Pakistan

Kabul Bank report increases pressure on PwC Pakistan

Leaked report critical of PwC's Pakistani office's audit role at Kabul Bank

THE POSSIBILITY of legal action against PwC’s Pakistan office increased after a leaked report was critical of the firm’s actions as auditor of Kabul Bank.

The report by Kroll points to what is described by Afghanistan’s finance minister Hazrat Omar Zahkiwal as “at a minimum level serious negligence” by PwC firm AF Ferguson & Co, reported The Independent.

The bank collapsed in a fraud which saw $900 (£500m) go missing. The report also points to failings by the Afghan government’s Central Bank.

AF Ferguson & Co said it was not in a position to comment, “…as we have not been involved in the investigation and are not privy to its findings”.

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

Professional Services Why Professional Services Firms Should Ditch Folders and Embrace Metadata

2y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

2y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine

Accounting Firms Turn Accounts Payable into a value-engine

2y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021

Making Tax Digital Digital Links: A guide to MTD in 2021

2y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource