Paschi Says PwC Highlighted Significant Uncertainty in Report

Italy’s Monte Paschi says that auditor’s report by PwC, included in the March 16 annual report, contains reference to the disclosure on the existence of a significant uncertainty regarding going concern.

• NOTE, March 16: Auditing firm signed off on bank’s annual financial report after a “careful review of the business continuity’s conditions” considered a key factor of the review
  • “In the presence of a significant uncertainty, we are required to draw attention in the auditor’s report to the relevant financial statement information or, if this information is inadequate, to reflect this circumstance in the formulation of our judgment,” PwC said ...