The Audit an consultancy firm PwC has reportedly settle an action by the Securities Exchange Commission in the USA to terminate investigations over improper conduct and breaches to independency rules.
The allegation refer to 19 engagements with 15 companies over a course of 3 years.
The firm appears to have breached the requirement to pre-approval from client’s audit committee for providing non-audit services.
The reported information noted that PwC mischaracterised the nature of the services.
