PwC Singapore understated violations of its conflict of interest policies in a bid to show improved compliance to the US audit regulator, ethics violations that cost the firm $1.5 million in penalties.
The Singapore firm’s independence office devised various initiatives that undercounted the number of staff who didn’t disclose changes in their personal finances, according to an enforcement order the Public Company Accounting Oversight Board announced Wednesday.
PwC, also known as PricewaterhouseCoopers LLP, was under pressure from both its global arm and the PCAOB to improve timely reporting of staff members’ financial interests, such ...
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