PracticeAuditPwC retains Russian auditing license

PwC retains Russian auditing license

Government gives firm another five years

The Russian finance ministry has granted
PricewaterhouseCoopers
permission to operate in the country for another five years.

There was some speculation that Moscow might have decided against the
extension after the auditor ran into trouble for working for the now-bankrupt
oil firm Yukos

The firm was recently fined ?250,000 by a Russian court for producing false
audits for Yukos and helping it
evade tax.

PwC, which claims to have acted strictly in line with business practices,
said it was pleased with the decision.

‘We will continue to provide the highest quality services to our clients,
many of which are the largest and most successful companies in Russia,’ the firm
said in a statement.

Further reading:

PwC denies loss of Russian client is due to Yukos
battle

PwC to stay put in Russia despite Yukos problems

The Russian revolution (cont’d)

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