PwC Role in Mattel Reporting Under Review by U.S. Audit Watchdog

Accounting giant PwC’s work for Mattel Inc. is being reviewed by the top U.S. audit watchdog after the toymaker said it would restate some previous financial results because of a bookkeeping error, according to a person familiar with the matter.

The Public Company Accounting Oversight Board’s scrutiny comes after Mattel said last week that some financial statements from 2017 “should no longer be relied upon due to material misstatements.” The El Segundo, Calif.-based company, which makes Barbie dolls and Matchbox cars, also said on Oct. 29 that it found “material weaknesses” in its internal controls for financial reporting.

The ...