Posts by Editor


At heart of FDIC’s win v. PwC, an unsettled theory

By Alison Frankel Read the entire article at Reuters (Reuters) – The accounting giant PricewaterhouseCoopers is facing hundreds of millions of dollars in exposure to the Federal Deposit Insurance Corporation after U.S. District Judge Barbara Rothstein ruled last week that PwC negligently failed to uncover a $2.3 billion fraud scheme between PwC audit client Colonial Bank, now in FDIC…

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Wall Street Journal

PwC ordered to pay $625m over Colonial Bank collapse

Wall Street Journal US FDIC wins largest ever damages award against an accounting firm ALISTAIR GRAY – NEW YORK PwC has been ordered to pay $625m over its role auditing a US bank before its collapse in 2009, the largest damages award ever made against an accounting firm. A court on Monday ordered that PwC pay…

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