{"id":243443,"date":"2025-04-16T05:28:52","date_gmt":"2025-04-16T05:28:52","guid":{"rendered":"https:\/\/peoplebugs.com\/business\/pwc-exits-more-than-a-dozen-countries-to-avoid-scandals-report\/"},"modified":"2025-04-16T05:39:42","modified_gmt":"2025-04-16T05:39:42","slug":"pwc-exits-more-than-a-dozen-countries-to-avoid-scandals-report","status":"publish","type":"post","link":"https:\/\/peoplebugs.com\/business\/pwc-exits-more-than-a-dozen-countries-to-avoid-scandals-report\/","title":{"rendered":"PwC exits more than a dozen countries to avoid scandals: report"},"content":{"rendered":"


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\n A view shows a PwC Australia logo in Melbourne, Australia, March 24, 2025. File
\n | Photo Credit: Reuters\n <\/p>\n<\/div>\n

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PricewaterhouseCoopers (PwC) has shut down operations in more than a dozen countries that are deemed too small, risky or unprofitable, as the Big Four accounting firm aims to prevent repeats of scandals that have affected it, the Financial Times<\/i> reported on Wednesday (April 16, 2025).<\/p>\n

Also read | PwC suggests IDEA framework for Indian companies to navigate U.S. tariff uncertainties<\/a><\/b><\/strong><\/p>\n

The decision was taken due to mounting differences with local partners, the FT<\/i> said, citing people familiar with the matter.<\/p>\n

Local leaders at the firm said they lost over a third of their business in recent years after pressure from PwC’s global executives to drop risky clients, according to the report.<\/p>\n

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PwC has faced an exodus of clientele and layoffs since last year.<\/p>\n

PwC declined to comment on the report to FT<\/i>. PwC did not immediately respond to a Reuters <\/i>request for comment outside business hours.<\/p>\n

The accounting giant has cut ties with its Sub-Saharan Francophone Africa firms after a strategic review, the company said last month.<\/p>\n

China hit PwC’s mainland China unit with a six-month suspension and a $62 million fine for audit failures related to property developer China Evergrande’s $78 billion fraud.<\/p>\n

Last month, Britain’s Financial Reporting Council fined PwC 4.5 million pounds ($5.96 million) in relation to the audit of Wyelands Bank for its 2019 financial year.<\/p>\n

The firm is working with Saudi Arabia and its sovereign wealth fund to mend relations after the kingdom suspended activities between the $925 billion fund’s holding company and PwC.<\/p>\n

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Published – April 16, 2025 10:58 am IST<\/span><\/p>\n<\/div>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A view shows a PwC Australia logo in Melbourne, Australia, March 24, 2025. File | Photo Credit: Reuters PricewaterhouseCoopers (PwC) has shut down operations in more than a dozen countries that are deemed too small, risky or unprofitable, as the Big Four accounting firm aims to prevent repeats of scandals that have affected it, the […]<\/p>\n","protected":false},"author":2,"featured_media":243444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[10],"tags":[196299,196301,196298,196300],"class_list":{"0":"post-243443","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-big-4-firm-accounting-firms","9":"tag-pwc-business","10":"tag-pwc-exits-more-than-a-dozen-countries-in-push-to-avoid-scandals","11":"tag-pwc-shuts-down-operations-in-multiple-countries"},"yoast_head":"\nPwC exits more than a dozen countries to avoid scandals: report -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/peoplebugs.com\/business\/pwc-exits-more-than-a-dozen-countries-to-avoid-scandals-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PwC exits more than a dozen countries to avoid scandals: report -\" \/>\n<meta property=\"og:description\" content=\"A view shows a PwC Australia logo in Melbourne, Australia, March 24, 2025. 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