TBW Plan Trustee v. PwC: A Look at What Led To It and What’s Next
Here’s a brief look at the TBW Plan Trustee v. PwC trial, what led to it and what’s next.
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Big Four Auditors and Jury Trials: Not In The U.S.
/19 Comments/in Audit Quality, BDO, Deloitte, EY, Grant Thornton, KPMG, Latest, PCAOB, PricewaterhouseCoopers, Pure Content, Regulators, Laws, Standards, Regulations, Sarbanes-Oxley, The Case Against The Auditors, The FirmsYou have to go outside of the US to see a trial of a Big Four audit firm to know what I’m talking about. Australia’s Centro case against PwC or Canada’s Nortel case where Deloitte partners testified recently tell you everything you need to know about why the Big Four will settle every time. Rather than have a jury and the public hear and see the pathetic state of the audit profession, its inability to stop executives who want to cheat, and its unwillingness to acknowledge liability as a firm when it screws up, the firms will reach into their seemingly bottomless pockets and pay up.