Description: Regulators in both Canada and the United States have slapped roughly $1 million in fines on auditing giant PricewaterhouseCoopers (PWC) for an internal cheating scandal in which 1,200 employees were implicated. Last year, PWC Australia faced a similar problem that resulted in over $600,000 in fines. One certainly hopes that the cheating did not occur on any ethics courses. The firm might not appreciate that degree of irony.
Date: February 28, 2022
1) Do you or any of your classmates have job offers from PWC? Does this story have any impact on your career plans?
2) If you were a senior advisor at PWC, what strategies would you recommend for addressing this situation?
3) On page 1-24 in Wiley’s Auditing: A Practical Approach the section titled “Assurance Providers” gives the names of a number of the leading assurance providers in Canada. Do a bit of research to determine if any of these other firms have had ethical issues that have emerged in recent years.