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PwC fined over exam cheating involving 1,100 of its auditors

Financial Times: 'PwC Canada has been fined more than $900,000 by Canadian and US accounting regulators over exam cheating involving 1,100 of its auditors. The watchdogs found that the Big Four firm failed to spot that staff were sharing answers in exams between 2016 and 2020 because of shortcomings in its internal standards and test supervision.

'The Canadian Public Accountability Board fined PwC Canada C$200,000 while the US Public Company Accounting Oversight Board imposed a $750,000 penalty. The PCAOB, overseen by the Securities and Exchange Commission, has powers to sanction foreign accounting firms if they are licensed to carry out work for US clients.'

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