PracticeAuditPwC named in US fraud action

PwC named in US fraud action

Dublin office named in class action

PricewaterhouseCoopers has found itself entangled in a class action suit
filed in the United States by aggrieved investors who were defrauded by New York
financier Bernard Madoff.

The investors, largely from Argentina and Chile, said the firm’s Dublin
office failed in its capacity as auditor of the fund Optimal Multiadvisors,
which invested indirectly with Madoff.

PwC has been named in the suit even though Optimal Multiadvisors is not
directly linked with the Madoff fraud.

Related Articles

Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

6d Emma Smith, Managing Editor
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter
PwC pay gap review finds “no evidence of gender bias” at BBC

Audit PwC pay gap review finds “no evidence of gender bias” at BBC

3m Alia Shoaib, Reporter
Carillion collapse: FRC to investigate KPMG over audit work

Audit Carillion collapse: FRC to investigate KPMG over audit work

4m Alia Shoaib, Reporter
PwC’s slapped with 2 year audit ban in India

Audit PwC’s slapped with 2 year audit ban in India

4m Alia Shoaib, Reporter
PwC found negligent by US judge over Colonial Bank's $2bn fraud

Audit PwC found negligent by US judge over Colonial Bank's $2bn fraud

5m Alia Shoaib, Reporter
KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

7m Emma Smith, Managing Editor