News

Mar 21 2019
4

FDIC Settles With PricewaterhouseCoopers LLP on Audits of a Failed Bank

By | Case News, FDIC Accounting Malpractice | No Comments

  Press Release Media contact: David Barr (202) 898-6992 dbarr@fdic.gov FDIC Settles With PricewaterhouseCoopers LLP on Audits of a Failed Bank The Federal Deposit Insurance Corporation as Receiver for Colonial Bank (FDIC) has announced a $335 million settlement with PricewaterhouseCoopers LLP (PwC) related to professional negligence claims brought by the FDIC against PwC arising out of the audits of the…

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Jan 05 2018
4

FDIC win against PwC could finally force auditors to look for fraud

By | Case News, FDIC Accounting Malpractice | No Comments

A federal judge has given the Federal Deposit Insurance Corp. a big win against PricewaterhouseCoopers, a decision that could cost the auditor more than $1 billion in damages and finally put auditors on the hook for detecting fraud. It’s a new responsibility that these firms have traditionally argued is not the point of an audit. On Dec. 28, U.S. District…

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