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…
9/13/16 REUTERS LEGAL 10:00:01 REUTERS LEGAL Copyright (c) 2016 Thomson Reuters This article is reprinted from Reuters Legal News on Westlaw with permission of Thomson Reuters. September 13, 2016 Dena Aubin (Reuters) – Accounting firm Crowe Horwath must face claims by the Federal Deposit Insurance Corp that it negligently failed to detect a fraud that led to at least $1 billion…