Russia’s attack on PricewaterhouseCoopers is escalating into an international
row, after apparent interventions by the US in the Yukos affair.
A Moscow court published the full text of a ruling on the affair yesterday,
claiming the world’s largest accounting firm had effectively colluded with Yukos
to commit tax fraud. The moves have led to analysts suggesting PwC could lose
auditing licence in Russia.
The firm is being hounded in
Russia after becoming
embroiled in the rows that led to the imprisonment of Mikhail Khodorkovsky,
Yukos’s former proprietor.
Condoleeza Rice is understood to have warned her counterpart in Russia that
the mvoes on the firm could damage investor confidence and cause caomplications
in Russia’s attempts to join the WTO,
Russian business paper
on the story
Simon Wright of CareersinAudit.com discusses how an effective cyber defence force is critical to businesses worldwide and how internal auditors can make the transition to a new career in cyber security
The FRC has said that the investigation will 'consider, but not be restricted to, issues regarding misstated accounting balances'
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February