PracticeAuditPwC to outline Mayflower defence

PwC to outline Mayflower defence

Firm will give its version of events today in first ever AIDB tribunal, facing complaint it should have given warnings in 2002 audit on future of bus company

PricewaterhouseCoopers is set today to outline today its defence against a
complaint that its 2002 audit of Mayflower should have contained warnings about
the company’s future.

The firm is facing the first ever public tribunal of a UK audit firm at the
Accountancy Investigation & Disciplinary Board. It has so far proved
successful in the defence of its claim, a major part of the complaints being
dropped by the AIDB on day two of proceedings.

The remaining complaint alleges that the firm should have included warnings
about the future of Mayflower, given the difficulties it was facing with its
banks.

PwC denies the complaint.

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