PwC to qualify Rock numbers

PricewaterhouseCoopers is likely to qualify Northern Rock’s accounts for
2007, it has emerged.

Daily Mail
reports today that the Big Four firm has still not agreed to sign
off the 2007 accounts, and is likely to qualify on the basis that it cannot be
sure there are no more skeletons in the cupboard.

The paper reports that the firm is involved in wrangles with the bank over
possible writedowns. The bank is set to write off large amounts, but the firm is
said to be pushing for larger provisions – perhaps for more than £500m.

The discussions are set to go on for several weeks, the paper adds.

Further Reading:

the Mail piece

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