PwC lodges appeal against JDS verdict
PricewaterhouseCoopers has lodged an appeal against the findings of the accoauntancy profession's senior watchdog on Coopers & Lybrand's role as auditor of Barings Bank.
The appeal against the verdict of the Joint Disiplinary Tribunal, details of which have not been revealed, is expected to be held in the autumn.
The JDS confirmed this week that it had received notice of the appeal but would not comment further.
Members of the independent tribunal had considered complaints against Coopers and two of its partners, Gareth Davies and Andrew Turner. PwC, formed by the merger of Coopers and Price Waterhouse, said it could not comment.
PwC also faces a court action next year bought by liquidator Ernst & Young on behalf of Barings’ creditors.
The move came as the Joint Disciplinary Scheme laid complaints against former deputy chairman of the Barings Group, accountant Andrew Tuckey, for failing to ensure Leeson’s activities were properly monitored.
He now faces a tribunal which, if it finds against him, could impose fines or exclude him from the profession.
Tuckey, also faces other complaints relating to the bank’s collapse, laid by Chris Dickson, JDS executive counsel.
Already disqualified as a company director, Tuckey now works for US merchant bank Donaldson Lufkin and Jenrette’s London offices, but declined to comment.
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