PwC | News | Accounting

An overview of global PwC news:

United Kingdom

FRC mulls formal investigation of PwC for WHSmith role After an accounting error wiped £30 million from WHSmith’s expected annual trading profit in North America, an independent report by Deloitte has found that the retailer now faces a larger-than-expec
03 December 2025
United Kingdom

Deloitte conducts review into WH Smiths accounting error WH Smith has tasked Deloitte with undertaking a probe of its books, after an accounting error wiped around £30 million from its expected annual trading profit in North America.
29 August 2025
Canada

Bridging Finance receiver PwC sues former auditor EY for $1.4 billion PwC, the court-appointed receiver of Bridging Finance, is suing fellow Big Four firm EY for $1.4 billion for claimed lapses in its accounting work for the failed Toronto-based private lender.
14 July 2025
United Kingdom

Big Four weighing up new AI audit offerings Amid an increasingly bloated market for AI-driven tools, verifying those which might actually work for a company is like looking for a needle in a haystack.
10 June 2025
China

PwC braces for severe regulatory penalties in China over Evergrande scandal The Chinese arm of PwC is bracing for significant regulatory penalties following its involvement in auditing the troubled property developer Evergrande.
22 August 2024
United Kingdom

PwC set to return as Sainsbury's auditor Reports in the British press suggest supermarket giant Sainsbury’s is set to re-appoint PwC as its auditor. The move would come a decade after the firm was replaced in the role by Big Four rival EY.
13 March 2024
Australia

Are audit and tax next in inadvertent PwC Australia break-up? With the planned divestment of its government consulting business, will PwC Australia inadvertently achieve what EY and government regulators couldn’t at the global level, breaking apart the Big Four
28 June 2023
Canada

KPMG Canada hit with $1.4-billion lawsuit over Bridging Finance collapse PwC Canada, the receiver for Bridging Finance, is suing KPMG Canada for $1.4 billion over alleged deficiencies in the firm’s auditing of the private debt manager, which collapsed in 2021.
20 April 2023
Middle East

Building trust in the Middle East through quality information The importance and nature of trust is evolving in the Middle East, with accurate and quality information at its core, writes PwC partner Mohamed Elborno.
12 April 2023
United Kingdom

PwC receives £1.7 million fine for BT audit Big Four firm PwC has picked up a million-pound find for failings relating to its audit for BT Group.
06 September 2022
United Kingdom

Big Four foisting 'high risk' clients onto smaller competitors The Financial Reporting Council has found that the Big Four’s auditing function has collectively improved for two consecutive years.
28 July 2022
United Kingdom

PwC probed over audits of construction groups Kier and Galliford Try As the UK’s accounting watchdog attempts to pressure the UK’s top accounting firms over a decline in standards, it has launched a new investigation into two PwC auditing contracts.
23 February 2022
Middle East

Transfer pricing to take centre stage in Middle East taxation As the global transfer pricing landscape becomes more sure-footed, businesses headquartered in the Middle East are still grappling with new legislation at domestic and multilateral levels.
02 September 2020
South Africa

Deloitte supplies top chartered accountancy candidates this year Four of the top twelve candidates in the 2019 Chartered Accountant (CA) assessments in South Africa are from Deloitte.
11 March 2020
India

PwC and Deloitte to hold back non-audit services from audit clients Big Four accounting and advisory firm’s PwC and Deloitte have both announced that they will no longer offer non-audit services to their existing audit clients, reports the Economic Times (ET).
18 February 2020
South Africa

BTMT Capital CEO recognised for outstanding achievement by Forbes Finance publication Forbes has recognised Chief Executive of financial advisory firm BTMT Capital Busisiwe Mdletshe for her extraordinary road from a life of limited means to remarkable success in th
07 February 2020
Australia

PwC responds to ASIC criticism with external audit quality board PwC Australia has installed an audit quality board, consisting of three external members, including the former Auditor-General Ian McPhee.
19 December 2019
United Kingdom

Labour pledges to take on Big Four audit "cartel” The Big Four of PwC, KPMG, Deloitte and EY could face an audit-sector overhaul, should the Labour Party win the 2019 general election.
29 November 2019
United Kingdom

PwC to replace rival KPMG in ITV audit role Following the news KPMG was not competing to continue in its role as ITV’s external auditor, rival PwC has swooped to pick up the valuable accounting contract.
27 November 2019
South Africa

PwC Africa CEO on efforts to restore trust in auditing While many have spoken of the need to rescue the auditing profession in South Africa, the South African Auditing Profession Trust Initiative (SAAPTI) is taking concrete steps to ensure that the indus
20 November 2019
United Kingdom

EY and PwC also sold consulting work to Thomas Cook Big Four audit and advisory firms PwC and EY have come under scrutiny for selling consulting and accounting services to Thomas Cook in the lead up to the company’s collapse.
05 November 2019
Middle East

PwC Middle East launches platform for digital risk management PwC Middle East has launched a new self-service online platform for companies to assess their exposure to digital risks.
23 October 2019
South Korea

PwC Korea leader appointed to new accounting education panel The International Federation of Accountants has appointed PwC Korea’s Choi Dhal to its new International Panel on Accountancy Education.
27 August 2019
United Kingdom

PwC wins tender to replace rival KPMG at Cineworld Cineworld has selected PwC to replace KPMG as external auditor following a tender process launched to keep the company “in accordance with good corporate governance policy on audit rotation.” The move comes s
28 June 2019
United Kingdom

PwC stung with fine for 'serious lack of competence' In a startlingly blunt assessment of PwC’s accounting work for Redcentric, the UK’s auditing watchdog has said the firm exhibited a “lack of competence”, before slapping a fine of more than £4 millio
20 June 2019
Malaysia

BDO and Big Four partner with ACCA / Sunway for audit simulation course Malaysia’s Sunway TES Centre of Accountancy Excellence together with the Association of Chartered Certiﬁed Accountants have held the first international installation of their joint Global Audit Simul
20 June 2019
United Kingdom

Accounting error adds £40 million to Kier Group debts Global construction company Kier Group has announced it has an additional £40 million of debt, following an accounting error.
14 March 2019
United Kingdom

PwC criticised for alleged conflicts of interest auditing Staffline PwC has been accused of ignoring conflicts of interest at a listed audit client, at which two senior members of staff were former members of the Big Four firm.
06 March 2019
Australia

Big Four accounting and consulting firms booming in Australia The Big Four professional services firms – EY, Deloitte, KPMG and PwC – are enjoying a sustained boom in Australia.
12 February 2019
United Kingdom

PwC uses drone to assist audit in global first Big Four firm PwC has piloted the use of a drone for an audit of a client in the energy sector, in a global first for the firm.
07 January 2019
United Kingdom

CMA calls for audit market cap but stops short of Big Four break-up The Big Four audit and advisory firms face an unprecedented limit to their market share, following the conclusions of a probe by the UK’s competition ombudsman.
17 December 2018
United Kingdom

Big Four rivals outline recommendations for changing UK audit market Some of the UK’s largest auditing and advisory firms have called for changes to the UK accounting scene, ahead of the Competition & Markets Authority’s industry probe.
22 November 2018

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