PwC to pay up over US contracts
Firm and IBM make deal with SEC
PwC has agreed to $2.3m (£1.15m) to settle
allegations that it and IBM gave illegal
kickbacks to reel in contracts with US government agencies.
IBM has agreed to pay the SEC $2.9m over the allegations.
According to reports, PwC and IBM cooperated separately in the SEC
investigation and won’t face further litigation on the matter.
The SEC had alleged that IBM and PwC knowingly solicited and made payments to
a number of companies with whom they have global alliances.
Both companies have denied the kickback allegations, and said the settlement
is not an admission of guilt.
Further reading:
SEC probes IBM accounting
IBM garners record deal with Unilever