PwC

In 1854, William Cooper founded an accountancy practice at No. 13 George Street in London. It became Cooper Brothers seven years later when his three brothers joined.

In 1898, Robert H. Montgomery, William M. Lybrand, Adam A. Ross Jr. and his brother T. Edward Ross formed Lybrand, Ross Brothers and Montgomery in the United States.

In 1957, Cooper Brothers, along with Lybrand, Ross Bros & Montgomery and a Canadian firm (McDonald, Currie and Co.), agreed to adopt the name Coopers & Lybrand in international practice.

In 1973, the three member firms in the UK, US and Canada changed their names to Coopers & Lybrand.{{Cite web|url=http://www.icaew.com/~/media/Files/Library/subjects/accounting%20history/family%20trees/family-tree-coopers-lybrand|title=ICAEW: Firms family trees|access-date=18 October 2011|archive-date=19 January 2012|archive-url=https://web.archive.org/web/20120119002033/http://www.icaew.com/~/media/Files/Library/subjects/accounting%20history/family%20trees/family-tree-coopers-lybrand|url-status=live}} Then in 1980, Coopers & Lybrand expanded its expertise in insolvency substantially by acquiring Cork Gully, a leading firm in that field in the UK.{{cite web|url=http://www.managementtoday.co.uk/news/411874/UK-Profile---Michael-Jordan-Cork-Gully/ |title=Profile – Michael Jordan of Cork Gully |work=Management Today |date= 1 January 1993 |access-date=3 August 2012 |archive-date=28 May 2012 |url-status=live |archive-url=https://web.archive.org/web/20120528135713/http://www.managementtoday.co.uk/news/411874/UK-Profile---Michael-Jordan-Cork-Gully/ }} In 1990, in certain countries, including the UK, Coopers & Lybrand merged with Deloitte, Haskins & Sells to become Coopers & Lybrand Deloitte; in 1992 they reverted to Coopers & Lybrand.{{cite web|url=http://www.icaew.com/index.cfm/route/155667/icaew_ga/en/Home/About_us/History_of_accounting/Coopers__Lybrand |archive-url=https://archive.today/20121209133204/http://www.icaew.com/index.cfm/route/155667/icaew_ga/en/Home/About_us/History_of_accounting/Coopers__Lybrand |url-status=dead |archive-date=9 December 2012 |title=ICAEW family trees |publisher=Icaew.com }}

The firm relocated from George Street to modern offices designed by Dennis Lennon & Partners at Plumtree Court in 1985,{{cite web|url=https://www.ribapix.com/Coopers-Lybrand-offices-Plumtree-Court-City-of-London-the-fully-glazed-conference-and-meeting-room_RIBA159618|title= Coopers & Lybrand offices Plumtree Court, City of London|publisher=Royal Institute of British Architects| access-date=17 April 2025}} and then moved to new offices designed by Terry Farrell at Embankment Place in 1994.{{cite news|url=https://www.independent.co.uk/arts-entertainment/az-of-employers-coopers-and-lybrand-1150991.html|title=A-Z of employers; Coopers and Lybrand|date=19 March 1998|newspaper=The Independent|access-date=17 April 2025}}

File:Edwin Waterhouse c1907.jpg

In 1849, Samuel Lowell Price, an accountant, founded an accountancy practice at No. 5 Gresham Street in London.{{cite book |title=Accounting for Success: a History of Price Waterhouse in America 1890–1990 |publisher=Harvard Business School Press |isbn=978-0-87584-328-5 |url=https://archive.org/details/accountingforsuc00alle_0 |url-access=registration |year=1993}} In 1865, Price went into partnership with William Hopkins Holyland and Edwin Waterhouse at No. 13 Gresham Street. Holyland left shortly afterwards to work alone in accountancy and the firm was known from 1874 as Price, Waterhouse & Co. The firm was based at No. 3, Frederick's Place in Old Jewry in London from 1899.{{cite web|url=https://www.royalacademy.org.uk/art-artists/archive/richard-bucknill-price-waterhouse-and-amp-co-3-fredericks-place-old-jewry|title=Richard Bucknill, Price Waterhouse & Co., 3, Frederick's Place, Old Jewry, London, E.C.2, to A. R. Middleton Todd, 71 Campden Street, W. 8|publisher=Royal Academy |access-date=17 April 2025}}

By the late 19th century, Price Waterhouse had gained recognition as an accounting firm. They opened an office in New York City in 1890, and the American firm expanded. The original British firm opened an office in Liverpool in 1904, and then elsewhere in the United Kingdom and worldwide, each time establishing a separate partnership in each country: the worldwide practice of Price Waterhouse was, therefore, a federation of collaborating firms that had grown organically, rather than the result of an international merger.

The firm relocated from Frederick's Place to modern offices at Southwark Towers in London Bridge Street in 1975."Change of Address" (classified advertisement by Price Waterhouse & Co.), The Times, 1975-12-01, p.22 The original partnership agreement, signed by Price, Holyland, and Waterhouse could be found in the new offices there.{{cite web|url=https://www.britishmuseum.org/research/search_the_collection_database/term_details.aspx?bioId=164843|title=Price Waterhouse (Biographical details)|publisher=The British Museum|access-date=17 August 2013|archive-date=17 November 2018|archive-url=https://web.archive.org/web/20181117233809/https://www.britishmuseum.org/research/search_the_collection_database/term_details.aspx?bioId=164843|url-status=live}}

In a further effort to take advantage of economies of scale, PW and Arthur Andersen discussed a merger in 1989{{cite web |url=http://faculty.washington.edu/krumme/companies/account.html |title=University of Washington: Accounting firms and organisations |publisher=Faculty.washington.edu |access-date=25 December 2007 |archive-date=15 November 2010 |archive-url=https://web.archive.org/web/20101115035321/http://faculty.washington.edu/krumme/companies/account.html |url-status=live }} but the negotiations failed, mainly because of conflicts of interest such as Andersen's strong commercial links with IBM and PW's audit of IBM, as well as the two firms' radically different cultures. It was said by those involved with the failed merger that at the end of the discussion, the partners at the table realized they had different views of business, and the potential merger was scrapped.{{cite news|url=https://www.latimes.com/archives/la-xpm-1989-09-26-fi-365-story.html|title=Accounting Giants Call Off Merger Plan : Price Waterhouse, Arthur Andersen Cite 'Differences'|newspaper=Los Angeles Times|date=26 September 1989|access-date=17 August 2013|archive-date=5 March 2016|archive-url=https://web.archive.org/web/20160305213903/http://articles.latimes.com/1989-09-26/business/fi-365_1_price-waterhouse|url-status=live}}

In 1998, Price Waterhouse and Coopers & Lybrand merged to form PricewaterhouseCoopers (written with a lowercase "w" and a camel case "C").[https://web.archive.org/web/20060625115425/http://www.findarticles.com/p/articles/mi_qa3755/is_199709/ai_n8768518 Price Waterhouse and Coopers & Lybrand to merge] Weekly Corporate Growth Report 29 September 1997 At that time, MCS was the largest and fastest growing division.{{cite web |title=PricewaterhouseCoopers |url=https://tobaccotactics.org/wiki/pricewaterhousecoopers/ |publisher=Tobacco Tactics, University of Bath |access-date=28 March 2023 |archive-date=8 February 2023 |archive-url=https://web.archive.org/web/20230208041510/https://tobaccotactics.org/wiki/pricewaterhousecoopers/ |url-status=live }}

The fallout from the Enron, Worldcom and other financial auditing scandals led to the demise of Arthur Andersen, reducing the count of the Big Five accounting firms down to the Big Four and spurring passage of the 2002 Sarbanes–Oxley Act (SOX). Among other restrictions, SOX severely limited the overlap between management consulting and auditing services.{{Cite web|title=The Laws That Govern the Securities Industry|url=https://www.sec.gov/answers/about-lawsshtml.html#sox2002|website=SEC.gov |access-date=23 May 2020}}

Around July 2000, PwC began to prepare for either an acquisition or IPO by developing separate financial records that would be required for due diligence. PwC leadership began to seek buyers, with an initial interest by Hewlett-Packard for a reported $17 billion, but negotiations broke down in 2000.[http://news.bbc.co.uk/1/hi/business/1021544.stm Hewlett-Packard drops PWC bid] {{Webarchive|url=https://web.archive.org/web/20090111164255/http://news.bbc.co.uk/1/hi/business/1021544.stm |date=11 January 2009 }} BBC News, 13 November 2000 Almost a year after the collapse of Arthur Andersen in 2001, Arthur Andersen, LLP affiliates in Hong Kong and mainland China completed talks to join PricewaterhouseCoopers, China.[https://web.archive.org/web/20110726114903/http://www.muzi.com/cc/english/10318%2C19931.shtml?q=1201761 Andersen Affiliates in China to Join Rival] Singapore News, 21 March 2002

In 2000, PwC acquired Canada's largest SAP consulting partner, Omnilogic Systems, to expand its developing consulting presence in Canada.{{cite news|url=http://www.therecord.com/news/business/article/637077--passion-for-business-takes-entrepreneur-from-software-to-cars-to-music|archive-url=https://web.archive.org/web/20120111191843/http://www.therecord.com/news/business/article/637077--passion-for-business-takes-entrepreneur-from-software-to-cars-to-music |title=Passion for business takes entrepreneur from software to cars to music|first=Rose |last=Simone |work=The Record|date=10 December 2011 | archive-date=11 January 2012}} PwC announced in May 2002 that PwC Consulting would be spun off as an independent entity and filed with the SEC for an initial $1B IPO to trade in August.{{cite news |last1=Perez |first1=Juan Carlos |title=PwC Consulting IPO set for August |url=https://www.computerworld.com/article/2575947/pwc-consulting-ipo-set-for-august.html |access-date=28 March 2023 |work=Computerworld |date=3 May 2002}} Because PwC accounting partners owned 60% of PwC Consulting, an IPO or acquisition was seen as the only way to split the two firms without decimating the consulting arm's working capital.{{cite news |title=PwC Consulting Set To Spin |url=https://www.forbes.com/sites/forbesdigitalcovers/2018/07/30/the-backsies-billionaire-texan-builds-second-fortune-from-wreckage-of-real-estate-empire-hed-sold/?sh=6aa07b8a3a72 |access-date=28 March 2023 |work=Forbes |date=2 May 2002 |archive-date=28 March 2023 |archive-url=https://web.archive.org/web/20230328020655/https://www.forbes.com/sites/forbesdigitalcovers/2018/07/30/the-backsies-billionaire-texan-builds-second-fortune-from-wreckage-of-real-estate-empire-hed-sold/?sh=6aa07b8a3a72 |url-status=live }}

PwC Consulting leadership continued to fluff financials by expanding across-the-board pay cuts, terminating its variable compensation program, and furthering deep layoffs, all rare actions in the industry. In June 2002, PwC Consulting hired Continental Airlines' Greg Brennerman as CEO to run the global division.{{cite news |last1=Adams |first1=Richard |title=Every day is Monday for PwC |url=https://www.theguardian.com/media/2002/jun/10/marketingandpr.business |access-date=28 March 2023 |work=The Guardian |date=10 June 2002}}

A week later, it was announced that an outside consultancy, Wolff Olins, had created new branding for the consulting group, called "Monday".{{cite news|url=http://news.bbc.co.uk/1/hi/business/2035803.stm|title=Monday name change for PwC|date=10 June 2002|publisher=BBC|access-date=14 December 2014|archive-date=1 March 2009|archive-url=https://web.archive.org/web/20090301223523/http://news.bbc.co.uk/1/hi/business/2035803.stm|url-status=live}} The firm's CEO, Greg Brenneman described the unusual name as "a real word, concise, recognizable, global and the right fit for a company that works hard to deliver results."[http://news.bbc.co.uk/1/hi/business/2035803.stm Monday name change for PwC] {{Webarchive|url=https://web.archive.org/web/20090301223523/http://news.bbc.co.uk/1/hi/business/2035803.stm |date=1 March 2009 }}, BBC News, 10 June 2002.

In July 2002, it was rumored that PwC was in talks with an unknown public company, as no PR space or announcement for the impending IPO had been set. Those rumors were confirmed in August 2002, when PwC announced it sold Monday to IBM for approximately $3.5 billion in cash and stock. Monday was consolidated into IBM Global Business Services while partners became employees for the first time. The acquisition had a modest increase in the size and capabilities of IBM's growing consulting practice, as IBM had 150,000 employees at the time. At the same time, Monday carried just 30,000 at the time.[http://blogs.guardian.co.uk/technology/archives/2002/07/31/ibm_buying_price_waterhouse_coopers_consulting_business.html IBM buying PricewaterhouseCoopers' consulting business] {{Webarchive|url=https://web.archive.org/web/20071227185207/http://blogs.guardian.co.uk/technology/archives/2002/07/31/ibm_buying_price_waterhouse_coopers_consulting_business.html |date=27 December 2007 }} Technology, 31 July 2002 However, it was seen as a win by IBM since PwC Consulting/Monday's valuation had suffered after the post-9/11 recession.{{cite news |last1=Shankland |first1=Steve |title=IBM Grabs PWC for $3.5 Billion |url=https://www.zdnet.com/article/ibm-grabs-pwc-for-3-5-billion/ |access-date=28 March 2023 |work=ZDNet.com |date=30 July 2002}}

PwC began rebuilding its consulting practice with acquisitions such as Paragon Consulting Group and the commercial services business of BearingPoint in 2009.[https://web.archive.org/web/20131101163422/http://m.foxbusiness.com/quickPage.html?page=19453&content=56887164&pageNum=-1 In close race for No 1, Deloitte, PwC grow apace] Fox Business, 30 October 2013 The firm continued this process by acquiring Diamond Management & Technology Consultants in November 2010,[https://www.wsj.com/articles/SB10001424052748703447004575449112496777890 PricewaterhouseCoopers to Buy Consulting Firm Diamond Management] {{Webarchive|url=https://web.archive.org/web/20181111000349/https://www.wsj.com/articles/SB10001424052748703447004575449112496777890 |date=11 November 2018 }} Wall Street Journal, 24 August 2010 and PRTM in August 2011.[https://web.archive.org/web/20230413040412/https://www.internationalaccountingbulletin.com/uncategorized/newspwc-acquires-global-consulting-firm-prtm/ PwC acquires global consulting firm PRTM], International Accounting Bulletin, 23 August 2011, archived 13 April 2023, accessed 17 August 2023 In 2012, the firm acquired Logan Tod & Co, a digital analytics and optimisation consultancy,{{cite web|url=http://news.top-consultant.com/US/PwC-acquires-digital-analytics-consultancy-8541.html|title=PwC acquires digital analytics consultancy|publisher=Top Consultant|date=15 March 2012|access-date=26 October 2014|archive-date=26 October 2014|archive-url=https://web.archive.org/web/20141026194627/http://news.top-consultant.com/US/PwC-acquires-digital-analytics-consultancy-8541.html|url-status=dead}} and Ant's Eye View, a social media strategy development and consulting firm to build upon PwC's growing Management Consulting customer impact and customer engagement capabilities.[http://www.accountingtoday.com/news/pwc-buys-social-media-strategy-firm-ants-eye-view-64056-1.html PwC Buys Social Media Consulting Firm] {{Webarchive|url=https://web.archive.org/web/20131103103105/http://www.accountingtoday.com/news/pwc-buys-social-media-strategy-firm-ants-eye-view-64056-1.html |date=3 November 2013 }} Accounting Today, 24 September 2012

In April 2014,{{Cite news|url=http://www.vault.com/company-profiles/management-strategy/pricewaterhousecoopers-llp-(consulting-practice)/company-overview.aspx|title=PricewaterhouseCoopers Advisory Services LLC (PwC Advisory Services){{!}}Company Profile{{!}}Vault.com|work=Vault|access-date=3 May 2017|archive-date=18 September 2018|archive-url=https://web.archive.org/web/20180918194145/http://www.vault.com/company-profiles/management-strategy/pricewaterhousecoopers-llp-(consulting-practice)/company-overview.aspx|url-status=live}} Booz & Company combined with PwC to form Strategy&.{{cite web|url=http://www.ft.com/intl/cms/s/0/2e574b0a-4159-11e3-9073-00144feabdc0.html#axzz2jDZATogV|archive-url=https://ghostarchive.org/archive/20221210221206/https://www.ft.com/content/2e574b0a-4159-11e3-9073-00144feabdc0#axzz2jDZATogV|archive-date=10 December 2022|url-access=subscription|title=PwC to bulk up with planned Booz & Company|date=30 October 2013|publisher=ft.com|access-date=30 October 2013|url-status=live}}{{Cite news|url=https://qz.com/195076/why-pwc-just-changed-the-name-of-its-100-year-old-consulting-acquisition-to-strategy/|title=Why PwC just changed the name of its 100-year-old consulting acquisition|last=Nisen|first=Max|work=Quartz|access-date=3 May 2017|language=en-US|archive-date=16 November 2018|archive-url=https://web.archive.org/web/20181116130825/https://qz.com/195076/why-pwc-just-changed-the-name-of-its-100-year-old-consulting-acquisition-to-strategy/|url-status=live}} In 2013, PwC acquired BGT Partners.[http://www.bizjournals.com/southflorida/news/2013/09/24/exclusive-pwc-strikes-deal-to-buy-bgt.html?page=all WC strikes deal to buy BGT Partners] {{Webarchive|url=https://web.archive.org/web/20170620155941/http://www.bizjournals.com/southflorida/news/2013/09/24/exclusive-pwc-strikes-deal-to-buy-bgt.html?page=all |date=20 June 2017 }} South Florida Business Journal, 4 November 2013 In 2016, PwC acquired technology/consulting firm NSI DMCC.{{cite web|url=http://www.tradearabia.com/news/IT_317305.html|title=PwC buys Dubai-based technology firm|website=www.tradearabia.com|access-date=6 June 2017|archive-date=3 October 2018|archive-url=https://web.archive.org/web/20181003212924/http://www.tradearabia.com/news/IT_317305.html|url-status=live}} In January 2017, PwC announced a five-year agreement with GE to provide managed tax services to GE on a global basis, transferring more than 600 of GE's in-house global tax team to PwC.{{Cite news|url=https://www.taxprotoday.com/news/pwc-to-hire-ge-tax-team?tag=00000150-f370-d7b7-a5f2-fbfc94c30001|title=PwC hiring GE tax team|work=Tax Pro Today|access-date=3 May 2017|language=en|archive-date=16 November 2018|archive-url=https://web.archive.org/web/20181116025152/https://www.taxprotoday.com/news/pwc-to-hire-ge-tax-team?tag=00000150-f370-d7b7-a5f2-fbfc94c30001|url-status=live}}

In November 2017, PwC accepted bitcoin as payment for advisory services, the first time the company, or any of the Big Four accounting firms, accepted virtual currency as payment.{{Cite news|url=https://www.wsj.com/articles/pricewaterhousecoopers-accepts-fee-in-bitcoin-1512036992|title=Bitcoin Goes to the Big Four: PwC Accepts First Digital-Currency Payment|last=Russolillo|first=Steven|date=30 November 2017|work=The Wall Street Journal|access-date=12 December 2017|language=en-US|issn=0099-9660|archive-date=9 April 2019|archive-url=https://web.archive.org/web/20190409154916/https://www.wsj.com/articles/pricewaterhousecoopers-accepts-fee-in-bitcoin-1512036992|url-status=live}} Veritas Capital acquired PwC's US public sector business in 2018, and branded the new company as Guidehouse.{{cite news |last1=Wilkers |first1=Ross |title=PwC public sector arm rebrands to 'Guidehouse' |url=https://washingtontechnology.com/articles/2018/07/20/new-name-pwc-guidehouse.aspx |access-date=17 December 2019 |work=Washington Technology |date=20 July 2018}}{{cite news |last1=Terry |first1=Robert J. |title=PwC's Veritas-owned U.S. public sector business now has a name |url=https://www.bizjournals.com/washington/news/2018/07/23/pwc-s-veritas-owned-u-s-public-sector-business-now.html |access-date=17 December 2019 |work=Washington Business Journal |date=23 July 2018}} The Academy of Motion Picture Arts and Sciences (AMPAS) has utilized the services of PwC to tally the votes for the Academy Awards since 1935.{{Cite news|last=McKenna|first=Francine|title=PwC Ensures Oscar® Ballot Integrity In 'Partnership' With Everyone Counts, Inc.|work=Forbes|url=https://www.forbes.com/sites/francinemckenna/2013/01/11/pwc-ensures-oscar-ballot-integrity-in-partnership-with-everyone-counts-llc/#d8701eb26243|access-date=9 May 2017|archive-date=7 August 2018|archive-url=https://web.archive.org/web/20180807095122/https://www.forbes.com/sites/francinemckenna/2013/01/11/pwc-ensures-oscar-ballot-integrity-in-partnership-with-everyone-counts-llc/#d8701eb26243|url-status=live}}

In addition, the company oversees AMPAS elections, prepares its financial documents, and is responsible for the group's tax filings.{{Cite news|last=Maddaus|first=Brent Lang, James Rainey, Gene|date=2 March 2017|title=Oscars: PwC Has Deeper Relationship With Academy Than Just Awards Show|language=en-US|work=Variety|url=https://variety.com/2017/film/awards/oscars-2017-pwc-academy-1202000212/|access-date=9 May 2017|archive-date=7 July 2018|archive-url=https://web.archive.org/web/20180707172857/https://variety.com/2017/film/awards/oscars-2017-pwc-academy-1202000212/|url-status=live}} In 2023, PwC acquired Surfaceink, a hardware designer.{{Cite web |last= |first= |date=2023-12-11 |title=PwC is acquiring Surfaceink, the hardware designer that was once a close partner of Apple's |url=https://techcrunch.com/2023/12/11/pwc-is-acquiring-surfaceink-the-hardware-designer-that-was-once-a-close-partner-of-apples/ |access-date=2023-12-11 |website=TechCrunch |language=en-US}}

In May 2024, PwC became ChatGPT Enterprise's biggest customer and will also start reselling OpenAI's service for other large businesses.{{cite news |last=Lin |first=Bette |url=https://www.wsj.com/articles/pwc-set-to-become-openais-largest-chatgpt-enterprise-customer-2eea1070 |title=PwC Set to Become OpenAI's Largest ChatGPT Enterprise Customer |work=The Wall Street Journal |date=2024-05-29 |accessdate=2024-05-29 }}

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity due to local legislative requirements.{{cite web|url=http://www.pwc.com/structure|title=How we are structured|author=PricewaterhouseCoopers|work=PwC|access-date=12 May 2014|archive-date=12 May 2014|archive-url=https://web.archive.org/web/20140512232601/http://www.pwc.com/structure|url-status=live}} Much like other professional services firms, each member firm is financially and legally independent. PwC is co-ordinated by a private company limited by guarantee under English law, called PricewaterhouseCoopers International Limited.{{cite web|url=http://www.pwc.com/gx/en/about/corporate-governance/network-structure.html|title=How we are structured|access-date=29 November 2016|archive-date=11 January 2019|archive-url=https://web.archive.org/web/20190111122949/https://www.pwc.com/gx/en/about/corporate-governance/network-structure.html|url-status=live}} In addition, PwC is registered as a multidisciplinary entity which also provides legal services.{{cite web|url=http://abovethelaw.com/2014/11/alt-legal-all-your-profits-are-belong-to-us/|title=All Your Profits Are Belong To Us|publisher=Above the law|date=5 November 2014|access-date=6 November 2014|archive-date=6 November 2014|archive-url=https://web.archive.org/web/20141106181304/http://abovethelaw.com/2014/11/alt-legal-all-your-profits-are-belong-to-us/|url-status=live}}

PwC is organized into the following three service lines:{{cite web|url=http://www.pwc.com/gx/en/global-annual-review/assets/pwc-global-annual-review-2014.pdf|title=PwC Global Annual Review 2014|publisher=PwC|access-date=8 October 2014}}

• Assurance – Assurance services are those typically associated with financial audits.{{cite web|url=https://corporatefinanceinstitute.com/resources/accounting/assurance-services/|title=Assurance Services|publisher=Corporate Finance Institute|access-date=4 January 2022}}
• Advisory – Advisory services offered by PwC include two actuarial consultancy departments; Actuarial and Insurance Management Solutions (AIMS) and a sub branch of "Human Resource Services" (HRS). Actuarial covers mainly 5 areas: pensions, life insurance, non-life insurance, health, and investments. AIMS deals with life and non-life insurance and investments, while HRS deals mainly with pensions and group health.{{cite web|url=http://www.pwc.com/Extweb/service.nsf/docid/D16B5A95E086DC7685256B58006D99AF|title=Actuarial & Insurance Management Solutions|publisher=PwC|archive-url=https://web.archive.org/web/20060327014800/http://www.pwc.com/Extweb/service.nsf/docid/D16B5A95E086DC7685256B58006D99AF|archive-date=27 March 2006|url-status=dead}} PwC has also expanded into digital media and advertising.{{Cite news|url=https://www.wsj.com/articles/cannes-ad-festival-reflects-advertisings-changing-guard-1529686433|title=Cannes Ad Festival Reflects Advertising's Changing Guard|last1=Vranica|first1=Suzanne|date=22 June 2018|work=The Wall Street Journal|access-date=8 October 2018|last2=O’Reilly|first2=Lara|language=en-US|issn=0099-9660|archive-date=26 May 2019|archive-url=https://web.archive.org/web/20190526103106/https://www.wsj.com/articles/cannes-ad-festival-reflects-advertisings-changing-guard-1529686433|url-status=live}}
• Tax – International tax planning

PwC firms are in 140 countries, with 370,000 people.

The following are the several logos the company has used through the years. The current PwC logo was introduced in September 2010, when the company changed its trading name from PricewaterhouseCoopers to PwC. It was designed by Wolff Olins.{{cite web|url=http://www.internationalaccountingbulletin.com/news/pricewaterhousecoopers-rebrands-to-pwc|title=PricewaterhouseCoopers rebrands to 'pwc'|last=Gyorkos|first=Ana|date=16 September 2010|website=International Accounting Bulletin|access-date=8 May 2017|archive-date=7 November 2018|archive-url=https://web.archive.org/web/20181107033914/http://www.internationalaccountingbulletin.com/news/pricewaterhousecoopers-rebrands-to-pwc|url-status=dead}}{{cite web|url=http://www.underconsideration.com/brandnew/archives/pwc.php|title=Brand New: PricewaterhouseCoopersWasALongName|website=www.underconsideration.com|language=en|access-date=8 May 2017|archive-date=7 January 2017|archive-url=https://web.archive.org/web/20170107175124/http://www.underconsideration.com/brandnew/archives/pwc.php|url-status=live}}{{Cite news|url=https://www.fastcodesign.com/1662367/pwcs-mighty-morphin-logo-adapts-to-web-print-and-beyond-video|title=PWC's Mighty Morphin' Logo Adapts to Web, Print, and Beyond [Video]|date=25 January 2012|work=Co.Design|access-date=8 May 2017|language=en-US|archive-date=3 January 2017|archive-url=https://web.archive.org/web/20170103220813/http://www.fastcodesign.com/1662367/pwcs-mighty-morphin-logo-adapts-to-web-print-and-beyond-video|url-status=live}}

File:Coopers & Lybrand logo.svg|The Coopers & Lybrand logo prior to the 1998 merger

File:Pw logo.png|The Price Waterhouse logo prior to the 1998 merger

File:PricewaterhouseCoopers.svg|The PricewaterhouseCoopers logo from 1998 to 2010

File:PricewaterhouseCoopers Logo.png|The PwC logo from 2010 to 2025

File:PwC 2025 Logo.svg|The PwC logo from 2025 to present

The firm has been embroiled in a number of corruption controversies and crime scandals.{{Cite web |date=2023-11-14 |title=Beyond Cyprus, PwC has weathered a decade of global probes and scandals - ICIJ |url=https://www.icij.org/investigations/cyprus-confidential/pwc-scandals-leaks-papers/ |access-date=2023-11-25 |language=en-US}} The firm has on multiple occasions been implicated in tax evasion and tax avoidance practices.{{Cite web |date=2023-05-17 |title=Accounting giant PwC is in crisis mode amid a growing Australian tax leak scandal - ICIJ |url=https://www.icij.org/investigations/luxembourg-leaks/accounting-giant-pwc-is-in-crisis-mode-amid-a-growing-australian-tax-leak-scandal/ |access-date=2023-11-25 |language=en-US}} The company has aided war criminals in evading sanctions. The company has frequently performed insufficient audits, whereby it performs auditing services that vouch for the finances of companies without following basic auditing standards.{{Cite web |last=Crump |first=Richard |date=2016-08-31 |title=PwC fined £2.3m over Cattles audit |url=https://www.accountancyage.com/2016/08/31/pwc-fined-2-3m-over-cattles-audit/ |access-date=2023-11-25 |website=Accountancy Age |language=en-GB}}{{Cite web |date=2023-03-10 |title=Sanctions against PwC and two of its former auditors {{!}} PQ Magazine |url=https://www.pqmagazine.com/sanctions-against-pwc-and-two-of-its-former-auditors/ |website=www.pqmagazine.com |language=en-GB |access-date=25 November 2023 |archive-date=25 November 2023 |archive-url=https://web.archive.org/web/20231125135418/https://www.pqmagazine.com/sanctions-against-pwc-and-two-of-its-former-auditors/ |url-status=live }}{{Cite web |date=2023-02-07 |title=PwC's auditing record under fire after $5.8b shortfall at retailer |url=https://www.afr.com/companies/financial-services/pwc-s-auditing-record-under-fire-after-5-8b-shortfall-at-retailer-20230208-p5ciue |access-date=2023-11-25 |website=Australian Financial Review |language=en |archive-date=8 October 2024 |archive-url=https://web.archive.org/web/20241008151741/https://www.afr.com/companies/financial-services/pwc-s-auditing-record-under-fire-after-5-8b-shortfall-at-retailer-20230208-p5ciue |url-status=live }}{{Cite web |last=Hattersley |first=Richard |date=2022-06-07 |title=PwC fined £5m for audits of construction companies |url=https://www.accountingweb.co.uk/business/financial-reporting/pwc-fined-ps5m-for-audits-of-construction-companies |access-date=2023-11-25 |website=AccountingWEB |language=en}}{{Cite news |last=Makortoff |first=Kalyeena |date=2023-03-08 |title=PwC fined for Babcock audit failings including creating false record |language=en-GB |work=The Guardian |url=https://www.theguardian.com/business/2023/mar/08/pwc-fined-for-babcock-audit-failings-including-faking-evidence |access-date=2023-11-25 |issn=0261-3077 |archive-date=8 October 2024 |archive-url=https://web.archive.org/web/20241008151745/https://www.theguardian.com/business/2023/mar/08/pwc-fined-for-babcock-audit-failings-including-faking-evidence |url-status=live }}

{{main|Price Waterhouse v. Hopkins}}

In 1989, the United States Supreme Court held that Price Waterhouse must prove by a preponderance of the evidence that the decision regarding Ann Hopkins's employment would have been the same if sex discrimination had not occurred. The accounting firm failed to prove that the same decision to postpone Hopkins's promotion to the partnership would have still been made in the absence of sex discrimination, and therefore, the employment decision constituted sex discrimination under Title VII of the Civil Rights Act of 1964. The significance of the Supreme Court's ruling was twofold. First, it established that gender stereotyping is actionable as sex discrimination. Second, it established the mixed-motive framework as an evidentiary framework for proving discrimination under a disparate treatment theory even when lawful reasons for the adverse employment action are also present.Goldstein, Leslie. "Gender Stereotyping and the Workplace: Price Waterhouse v. Hopkins (1989)." 2006. The Constitutional and Legal Rights of Women, 3rd ed. Los Angeles: Roxbury, 2006. 167–75. Print. Hopkins's candidacy for partnership had been put on indefinite hold. She eventually resigned and sued the company for occupational sexism, arguing that her lack of promotion came after pressure to walk, talk, dress, and act more "femininely."{{cite book|last1=Levit|first1=Nancy|url=https://books.google.com/books?id=GUldDkj_mg4C&pg=PA212|title=The Gender Line: Men, Women, and the Law|date=1998|publisher=New York University Press|isbn=9780814751220|page=212|access-date=27 December 2014|archive-date=8 October 2024|archive-url=https://web.archive.org/web/20241008151737/https://books.google.com/books?id=GUldDkj_mg4C&pg=PA212|url-status=live}}

In 1990, a Federal district judge in Washington ordered the firm to make Hopkins a partner. It was the first time in which a court awarded partnership in a professional company as a remedy for sexual or race-based discrimination.{{cite news|last1=Lewin|first1=Tamar|date=16 May 1990|title=Partnership in Firm Awarded to Victim of Sex Bias|publisher=NYTimes|url=https://www.nytimes.com/1990/05/16/us/partnership-in-firm-awarded-to-victim-of-sex-bias.html|access-date=11 May 2017|archive-date=20 November 2018|archive-url=https://web.archive.org/web/20181120015257/https://www.nytimes.com/1990/05/16/us/partnership-in-firm-awarded-to-victim-of-sex-bias.html|url-status=live}}

Following the suit, the firm received media attention due to its discriminatory labor practices towards males as well.{{cite web|title=Father wins sex discrimination case after request to work part-time rejected|url=https://www.telegraph.co.uk/men/relationships/fatherhood/11206484/Father-wins-sex-discrimination-case-after-request-to-work-part-time-rejected.html|access-date=4 April 2016|website=Telegraph.co.uk|date=4 November 2014|archive-date=9 September 2018|archive-url=https://web.archive.org/web/20180909101535/https://www.telegraph.co.uk/men/relationships/fatherhood/11206484/Father-wins-sex-discrimination-case-after-request-to-work-part-time-rejected.html|url-status=live}}

In 2014, it came to light that PwC had received $55m from Caterpillar Inc. to develop a tax avoidance scheme, according to an investigation of the US Senate, PwC had helped Caterpillar Inc. drastically reduce its taxes for more than a decade.{{cite news|date=31 March 2014|title=Senate report claims Caterpillar avoided $2.4bn in US taxes|newspaper=The Guardian|url=https://www.theguardian.com/business/2014/mar/31/caterpillar-avoid-4billion-us-taxes-senate-report|access-date=16 December 2014|archive-date=26 April 2019|archive-url=https://web.archive.org/web/20190426160243/https://www.theguardian.com/business/2014/mar/31/caterpillar-avoid-4billion-us-taxes-senate-report|url-status=live}}{{cite news|date=6 November 2014|title=Big four audit firms behind global profit shifting|newspaper=Sydney Morning Herald|url=http://www.smh.com.au/business/big-four-audit-firms-behind-global-profit-shifting-20141106-11i08q.html|access-date=16 December 2014|archive-date=8 October 2024|archive-url=https://web.archive.org/web/20241008151748/https://www.smh.com.au/business/big-four-audit-firms-behind-global-profit-shifting-20141106-11i08q.html|url-status=live}} Profits valued at $8bn were shifted from the US to Switzerland, which allegedly made it possible to save more than $2.4bn in US taxes over a decade. In Switzerland profits were taxed at 4%. A PricewaterhouseCoopers managing director who was involved in designing the tax savings plan had written at the time to a PwC partner: "We'll all be retired when this ... comes up on audit."

In 2005, BusinessWeek reported that PwC was American International Group Inc.'s auditor through AIG's years of "questionable dealings" and accounting improprieties. AIG on 30 March 2005, said that deals with a Barbados-based insurance company, for instance, may have been incorrectly accounted for over the past 14 years, because an AIG-affiliated company may have been secretly covering that insurer's losses.[https://web.archive.org/web/20050407205849/http://www.businessweek.com/magazine/content/05_15/b3928047_mz011.htm Tough Questions For AIG's Auditors – Regulators are probing if PwC let the financial shenanigans slip through] Businessweek, Joseph Weber, Mike McNamee, Marcia Vickers and Diane Brady, 11 April 2005

BusinessWeek said that PwC also appeared to have "dropped the ball" on the deals between AIG and Berkshire Hathaway Inc.'s General Re Corp. General Re transferred $500 million in anticipated claims and premiums to AIG. BusinessWeek asked: "Did the auditor do its job by verifying that AIG was assuming risk on claims beyond the $500 million, thus allowing AIG to account for the deal as insurance? That's Accounting 101 in any reinsurance transaction."

According to a memo published by Business Insider, witnesses wondered how PwC was signing off on the accounts for both AIG and Goldman Sachs when they were using different valuation methods for the swaps contracts (and therefore booked different values for them in their accounts).{{cite web|date=11 March 2016|title=We just got a new insight into a crucial crisis-era dispute between Goldman Sachs and AIG|url=https://www.businessinsider.com/joe-cassano-on-goldman-aig-dispute-2016-3?r=US&IR=T|access-date=2 June 2016|website=Business Insider|archive-date=8 October 2024|archive-url=https://web.archive.org/web/20241008151755/https://www.businessinsider.com/joe-cassano-on-goldman-aig-dispute-2016-3?r=US&IR=T|url-status=live}}

{{Nihongo|ChuoAoyama Audit Corporation|中央青山監査法人|Chūō-Aoyama Kansa Hōjin}} was the Japanese affiliate of assurance service of PwC from April 2000 to 2006.{{Cite web|url=http://www.hbs.edu/faculty/Publication%20Files/10-088.pdf|title=Audit Quality and Auditor Reputation: Evidence from Japan|website=Harvard Business School|accessdate=14 November 2023|archive-date=8 October 2024|archive-url=https://web.archive.org/web/20241008135624/http://www.hbs.edu/faculty/Publication%20Files/10-088.pdf|url-status=live}} In May 2006, the Financial Services Agency of Japan suspended ChuoAoyama from provision of some statutory auditing services for two months{{cite SSRN|title=In May 2006, the Japanese Financial Services Agency (FSA) suspended ChuoAoyama for two months| date=10 January 2012 |ssrn=1557231| last1=Skinner | first1=Douglas J. | last2=Srinivasan | first2=Suraj }} following the collapse of cosmetics company Kanebo, of which three of the partners were found assisting with accounting fraud for hiding deficits of about $1.9 billion over the course of five years.{{cite news|last=Hongo|first=Jun|date=10 August 2006|title=CPAs in Kanebo fraud avoid prison|work=Japan Times|url=http://www.japantimes.co.jp/news/2006/08/10/news/cpas-in-kanebo-fraud-avoid-prison/|archive-url=https://web.archive.org/web/20160413163415/http://www.japantimes.co.jp/news/2006/08/10/news/cpas-in-kanebo-fraud-avoid-prison/|archive-date=13 April 2016}}

The accountants got suspended prison terms up to 18 months from the Tokyo District Court after the judge deemed them to have played a "passive role" in the crime. The suspension was the first-ever imposed on a major accounting firm in the country. Many of the firm's largest clients were forced to find replacement auditors before the suspension began that July.{{cite magazine|last=Frederick|first=Jim|date=15 May 2006|title=Japan's Regulators Get Tough|magazine=Time|url=http://www.time.com/time/magazine/article/0,9171,1194088,00.html#ixzz1IokjSHHm|url-status=dead|archive-url=https://web.archive.org/web/20090403052115/https://time.com/time/magazine/article/0,9171,1194088,00.html|archive-date=3 April 2009}}

Shortly after the suspension of ChuoAoyama, PwC acted quickly to stem any possible client attrition as a result of the scandal. It set up the PricewaterhouseCoopers Aarata, and some of ChuoAoyama's accountants and most of ChuoAoyama's clients moved to the new firm.{{cite web|date=13 June 2006|title=PricewaterhouseCoopers Names Aarata|url=https://outlookseries.com/news/Services/1003.htm|access-date=25 June 2020|website=OutlookSeries.com|archive-date=27 June 2020|archive-url=https://web.archive.org/web/20200627042634/https://outlookseries.com/news/Services/1003.htm|url-status=live}}{{cite book|last=Knapp|first=Michael C.|url=https://books.google.com/books?id=HPwVqabKeXEC&pg=PA428|title=Contemporary Auditing|date=2012|publisher=Cengage Learning|isbn=978-1133187899|page=428|access-date=26 June 2020|archive-date=8 October 2024|archive-url=https://web.archive.org/web/20241008151745/https://books.google.com/books?id=HPwVqabKeXEC&pg=PA428|url-status=live}} ChuoAoyama resumed operations on 1 September 2006, under the Misuzu name. However, by this point the two firms combined had 30% fewer clients than did ChuoAoyama prior to its suspension. Misuzu was dissolved in July 2007.[http://www.fraud-magazine.com/article.aspx?id=415 New Japanese Internal Controls Framework] {{Webarchive|url=https://web.archive.org/web/20170702093448/http://www.fraud-magazine.com/article.aspx?id=415 |date=2 July 2017 }} Fraud Magazine. November/December 2007{{cite news|date=2 August 2007|title=Misuzu Audit disbands after 39 years, scandals|work=Japan Times|url=http://www.japantimes.co.jp/news/2007/08/02/business/misuzu-audit-disbands-after-39-years-scandals/|archive-url=https://web.archive.org/web/20181107020811/https://www.japantimes.co.jp/news/2007/08/02/business/misuzu-audit-disbands-after-39-years-scandals/#.W-JJFW37Tcs|archive-date=7 November 2018}}

In July 2007, PwC agreed to pay US$229 million to settle a class-action lawsuit brought by shareholders of Tyco International Ltd. over a multibillion-dollar accounting fraud. The chief executive and chief financial officer of Tyco were found guilty of looting $600 million from the company.{{cite news|date=6 July 2007|title=Pricewaterhouse to pay $225 mln in Tyco settlement|work=Reuters|url=https://www.reuters.com/article/tnBasicIndustries-SP/idUSN0619694620070706|access-date=1 July 2017|archive-date=24 June 2009|archive-url=https://web.archive.org/web/20090624111623/http://www.reuters.com/article/tnBasicIndustries-SP/idUSN0619694620070706|url-status=live}}

In 2007, India's accounting standards agency ICAI found partners of PwC guilty of professional negligence in under-providing for nonperforming assets of the now-defunct Global Trust Bank.{{cite news|date=8 January 2009|title=PwC's fate Hangs in Balance|publisher=Economictimes.indiatimes.com|url=http://economictimes.indiatimes.com/articleshow/3950021.cms|access-date=8 January 2009|archive-date=7 July 2018|archive-url=https://web.archive.org/web/20180707234144/https://economictimes.indiatimes.com/articleshow/3950021.cms|url-status=live}} This led to the RBI banning PwC from auditing any financial company for over a year.{{cite news|date=15 March 2008|title=RBI lifts ban on PwC|newspaper=Business Standard India|url=http://www.business-standard.com/india/storypage.php?autono=316917|publisher=Business-standard.com|access-date=8 January 2009|archive-date=7 October 2012|archive-url=https://web.archive.org/web/20121007130941/http://www.business-standard.com/india/storypage.php?autono=316917|url-status=live}}{{cite news|title=PwC has a chequered past with taxmen|newspaper=Business Standard India|date=9 January 2009|url=http://www.business-standard.com/india/news/pwc-haschequered-pasttaxmen/09/24/345674/|publisher=Business-standard.com|access-date=9 January 2009|archive-date=25 May 2009|archive-url=https://web.archive.org/web/20090525064943/http://www.business-standard.com/india/news/pwc-haschequered-pasttaxmen/09/24/345674/|url-status=live}}{{cite news|title=Regulator may blacklist Price Waterhouse|newspaper=Business Standard India|date=9 January 2009|url=http://www.business-standard.com/india/news/regulator-may-blacklist-price-waterhouse/09/24/345651/|publisher=Business-standard.com|access-date=9 January 2009|archive-date=20 September 2011|archive-url=https://web.archive.org/web/20110920140501/http://www.business-standard.com/india/news/regulator-may-blacklist-price-waterhouse/09/24/345651/|url-status=live}} PwC was also associated with the accounting scandal at the India-based DSQ Software, which collapsed in 2003.{{cite web|last=Mukherjee|first=Ritwik|title=Third mess-up by PwC after GTB, DSQ Soft|url=http://www.mydigitalfc.com/companies/third-mess-pwc-after-gtb-dsq-soft-210|url-status=dead|archive-url=https://web.archive.org/web/20090208092150/http://www.mydigitalfc.com/companies/third-mess-pwc-after-gtb-dsq-soft-210|archive-date=8 February 2009|publisher=Mydigitalfc.com}}

In January 2009, PwC was criticised,{{cite news|last=Chen|first=George|date=8 January 2009|title=Satyam scandal rattles confidence in accounting Big Four|publisher=In.reuters.com|url=http://in.reuters.com/article/companyNews/idINHKG30879120090108|archive-url=https://web.archive.org/web/20090126041000/http://in.reuters.com/article/companyNews/idINHKG30879120090108|url-status=dead|archive-date=26 January 2009}}{{cite web|date=7 January 2009|title=ICAI to seek explanation from Satyam's auditor PwC|url=http://www.livemint.com/2009/01/07165018/ICAI-to-seek-explanation-from.html|publisher=Livemint.com|access-date=7 January 2009|archive-date=24 February 2010|archive-url=https://web.archive.org/web/20100224011751/http://www.livemint.com/2009/01/07165018/ICAI-to-seek-explanation-from.html|url-status=live}}{{cite news|date=7 January 2009|title=Satyam auditor says examining chairman's statement|work=Reuters|url=https://www.reuters.com/article/marketsNews/idINBMA00213420090107?rpc=44|access-date=1 July 2017|archive-date=27 May 2009|archive-url=https://web.archive.org/web/20090527202454/http://www.reuters.com/article/marketsNews/idINBMA00213420090107?rpc=44|url-status=live}}{{cite web|title=Satyam: Auditors' body to pull up PwC ICAI to seek explanation from Satyam's auditor PwC|url=http://www.rediff.com/money/2009/jan/07satyam-satyam-auditors-body-to-pull-up-pwc.htm|work=Rediff.com|access-date=7 January 2009|archive-date=4 February 2010|archive-url=https://web.archive.org/web/20100204001255/http://www.rediff.com/money/2009/jan/07satyam-satyam-auditors-body-to-pull-up-pwc.htm|url-status=live}} along with the promoters of Satyam, an Indian IT firm listed on the NASDAQ, in a $1.5 billion fraud.{{cite news|date=8 January 2009|title=Satyam: A Rs 7,000cr Lie|work=The Times of India|url=http://timesofindia.indiatimes.com/Satyam_A_Rs_7000_Cr_Lie/articleshow/3949109.cms|access-date=8 January 2009|archive-date=3 February 2019|archive-url=https://web.archive.org/web/20190203102723/https://timesofindia.indiatimes.com/Satyam_A_Rs_7000_Cr_Lie/articleshow/3949109.cms|url-status=live}} PwC wrote a letter to the board of directors of Satyam that its audit may be rendered "inaccurate and unreliable" due to the disclosures made by Satyam's (ex) Chairman and subsequently withdrew its audit opinions.{{cite news|date=14 January 2009|title=PWC says Satyam audit opinions may be unreliable|work=Reuters|url=https://www.reuters.com/article/rbssTechMediaTelecomNews/idUSBMA00217420090114|access-date=1 July 2017|archive-date=8 February 2009|archive-url=https://web.archive.org/web/20090208164143/http://www.reuters.com/article/rbssTechMediaTelecomNews/idUSBMA00217420090114|url-status=live}}

PwC's US arm "was the reviewer for the U.S. filings for Satyam".{{Cite news|last=McKenna|first=Francine|title=The Grand Illusion: PwC Settles Satyam U.S. Class Action Claims|work=Forbes|url=https://www.forbes.com/sites/francinemckenna/2011/05/06/the-grand-illusion-pwc-settles-satyam-u-s-class-action-claims/2/#6542929e11dc|access-date=9 May 2017|archive-date=7 July 2018|archive-url=https://web.archive.org/web/20180707173200/https://www.forbes.com/sites/francinemckenna/2011/05/06/the-grand-illusion-pwc-settles-satyam-u-s-class-action-claims/2/#6542929e11dc|url-status=live}} Consequently, lawsuits were filed in the US with PwC as a defendant. Two partners of PricewaterhouseCoopers, Srinivas Talluri and Subramani Gopalakrishnan, were charged by India's Central Bureau of Investigation in connection with the Satyam scandal. After the scandal broke out, Subramani Gopalakrishnan retired from the firm after reaching mandatory retirement age, while Talluri remained on suspension from the firm.{{cite magazine|author1=Raghavendra Verma|author2=Keith Nuthall|date=8 April 2009|title=PwC partners charged over Satyam|url=http://www.accountancyage.com/accountancyage/news/2240046/styam-partners-charged|url-status=dead|magazine=Accountancy Age|archive-url=https://archive.today/20120722124303/http://www.accountancyage.com/accountancyage/news/2240046/styam-partners-charged|archive-date=22 July 2012|access-date=1 March 2010}}{{cite news|last=Timmons|first=Heather|date=28 May 2009|title=Two Auditors Held in India Fault System|website=New York Times|url=https://www.nytimes.com/2009/05/29/business/global/29prison.html|access-date=9 May 2017|archive-date=7 July 2018|archive-url=https://web.archive.org/web/20180707172743/https://www.nytimes.com/2009/05/29/business/global/29prison.html|url-status=live}}

Following the Satyam scandal, the Mumbai-based Small Investor Grievances Association (SIGA) requested the Indian stock market regulator SEBI to ban PwC permanently and seize its assets in India alleging more scandals like "Ketan Parekh stock manipulations."{{cite news|title=Investor group wants Sebi to supersede Satyam board|newspaper=Business Standard India|date=5 September 2012|url=http://www.business-standard.com/india/news/investor-group-wants-sebi-to-supersede-satyam-board/19/56/52475/on|publisher=Business-standard.com|access-date=8 January 2009|archive-date=26 May 2009|archive-url=https://web.archive.org/web/20090526045518/http://www.business-standard.com/india/news/investor-group-wants-sebi-to-supersede-satyam-board/19/56/52475/on|url-status=live}}

In 2015, PwC India said they were disappointed with court judgement of the case saying, "As we have said many times, there has never been any evidence presented that either of our former partners S Gopalakrishnan or Srinivas Talluri were involved in or were aware of the management-led fraud at Satyam. We understand that Gopal and Talluri are considering filing an appeal against this verdict."{{Cite news|last=Kumar|first=V Rishi|date=9 April 2015|title=Disappointed with verdict, says PwC|language=en|work=The Hindu Business Line|url=http://www.thehindubusinessline.com/info-tech/disappointed-with-verdict-says-pwc/article7084946.ece|access-date=9 May 2017|archive-date=22 November 2017|archive-url=https://web.archive.org/web/20171122140538/http://www.thehindubusinessline.com/info-tech/disappointed-with-verdict-says-pwc/article7084946.ece|url-status=live}}

In 2018, PwC was banned by India's securities regulator from providing auditing services to public-listed companies for 2 years, and PwC was fined $2 million in addition to the suspension.{{Cite news|last=Abrams|first=Corinne|date=11 January 2018|title=India Bans PricewaterhouseCoopers From Auditing Listed Firms for Two Years|language=en-US|work=The Wall Street Journal|url=https://www.wsj.com/articles/india-bans-pricewaterhousecoopers-from-auditing-listed-firms-for-two-years-1515656186|access-date=11 January 2018|issn=0099-9660|archive-date=7 July 2018|archive-url=https://web.archive.org/web/20180707172519/https://www.wsj.com/articles/india-bans-pricewaterhousecoopers-from-auditing-listed-firms-for-two-years-1515656186|url-status=live}} In September 2019, this ban was overruled by the securities appellate tribunal stating that there was no evidence of collusion of PwC in the scam. The tribunal also stated that SEBI had no jurisdiction over audit firms and only ICAI could issue such an order.{{Cite news|last1=Dave|first1=Sachin|last2=Vyas|first2=Maulik|date=10 September 2019|title=SAT quashes Sebi order of banning PwC for two years from auditing|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/services/consultancy-/-audit/sat-quashes-sebi-order-of-banning-pwc-for-two-years-from-auditing/articleshow/71044512.cms|access-date=10 September 2019}}

PwC, which provides consulting service to the Kerala government's Department of Information Technology{{Cite web|title=Not blacklisted, PwCPL clarifies after Kerala leader's remarks |url=https://www.outlookindia.com/newsscroll/not-blacklisted-pwcpl-clarifies-after-kerala-leaders-remarks-ld/1881877|access-date=18 July 2020|website=outlookindia}}{{Cite web|last=M.K.|first=Nidheesh|date=28 June 2020|title=Congress alleges corruption in Kerala govt roping in PwC for e-mobility project|url=https://www.livemint.com/politics/news/congress-alleges-corruption-in-kerala-govt-roping-in-pwc-for-e-mobility-project-11593351785478.html|access-date=18 July 2020|website=Livemint|language=en|archive-date=18 July 2020|archive-url=https://web.archive.org/web/20200718073644/https://www.livemint.com/politics/news/congress-alleges-corruption-in-kerala-govt-roping-in-pwc-for-e-mobility-project-11593351785478.html|url-status=live}} and its Space Park project,{{Cite web|date=July 15, 2020|title=Government to terminate PwC's consultancy for Space Park |url=https://timesofindia.indiatimes.com/city/thiruvananthapuram/govt-to-terminate-pwcs-consultancy-for-space-park/articleshow/76967769.cms|access-date=18 July 2020|website=The Times of India|language=en}} has been criticised for appointing Ms. Swapana Suresh, who is accused in a case of smuggling gold in a diplomatic bag. Following an investigation, the Kerala government decided to terminate the consultancy services of PwC for the proposed Space Park project in Thiruvananthapuram. PwC sub-contracted the resource from a vendor, Vision Technologies, but the government considers that the primary liability is on PwC for recruiting Swapna Suresh.

Even before these events, the opening of the PwC office in Kerala secretariat had attracted serious criticism from the opposition party.{{Cite web|title=PricewaterhouseCoopers to open office in Kerala secretariat: Ramesh Chennithala|url=https://english.mathrubhumi.com/news/kerala/pricewaterhousecoopers-to-open-office-in-kerala-secretariat-ramesh-chennithala-1.4875990|access-date=18 July 2020|website=Mathrubhumi|date=2 July 2020|language=en|archive-date=18 July 2020|archive-url=https://web.archive.org/web/20200718070328/https://english.mathrubhumi.com/news/kerala/pricewaterhousecoopers-to-open-office-in-kerala-secretariat-ramesh-chennithala-1.4875990|url-status=live}}{{Cite web|title=Congress objects to opening PricewaterhouseCoopers office in Kerala Secretariat|url=https://www.thenewsminute.com/article/congress-objects-opening-pricewaterhousecoopers-office-kerala-secretariat-127848|access-date=18 July 2020|website=www.thenewsminute.com|date=3 July 2020|archive-date=18 July 2020|archive-url=https://web.archive.org/web/20200718082318/https://www.thenewsminute.com/article/congress-objects-opening-pricewaterhousecoopers-office-kerala-secretariat-127848|url-status=live}} Following this, PwC issued clarification on their hiring of Ms. Swapna Suresh by stating that she was hired based on a background verification report from past employers as well as a criminal record verification at the time.{{Cite web|title=Swapna Suresh's alleged links with PwC; company issues clarification|url=https://english.mathrubhumi.com/news/kerala/swapna-suresh-s-alleged-links-with-pwc-company-issues-clarification-1.4889892|access-date=18 July 2020|website=Mathrubhumi|date=8 July 2020|language=en|archive-date=18 July 2020|archive-url=https://web.archive.org/web/20200718080811/https://english.mathrubhumi.com/news/kerala/swapna-suresh-s-alleged-links-with-pwc-company-issues-clarification-1.4889892|url-status=live}} In February 2022, the state government of Kerala wrote to PwC in order to seek the refund of INR 16 Lacs paid in salary to Swapna Suresh. In April 2022, the company responded that it can't repay the amount.{{Cite web |title=Can't repay Rs 16L salary paid to Swapna Suresh: PwC tells Kerala government |url=https://www.onmanorama.com/news/kerala/2022/04/21/price-water-house-coopers-says-cannot-repay-salary-paid-to-swapna-suresh-gold-smuggling-accused.html |access-date=2 May 2022 |website=OnManorama}}

Yukos was a Russian oil and gas company that was the target of politically motivated prosecutions by Russian authorities. The company's assets were sold for alleged unpaid taxes and it was declared bankrupt. PwC's audits were the foundation for the firm's defense in a series of continuing trials against former chief executive, Mikhail Khodorkovsky, and the former majority shareholder, Platon Lebedev. The Russian authorities then went after PwC. In March 2007, police raided PwC's Moscow offices, confiscating documents related to Yukos and charging and convicting PwC of failing to pay 243 million rubles, or $9.4 million, in taxes. PwC withdrew its Yukos audits and less than two weeks later authorities cleared PwC of any wrongdoing in regard to its audit.{{cite web|last1=Zapata|first1=Ron|date=18 July 2007|title=Russian Officials Clear PwC Of Fraud In Yukos Audit|url=https://www.law360.com/articles/29939/russian-officials-clear-pwc-of-fraud-in-yukos-audit|access-date=11 May 2017|publisher=Law 360|archive-date=7 July 2018|archive-url=https://web.archive.org/web/20180707173238/https://www.law360.com/articles/29939/russian-officials-clear-pwc-of-fraud-in-yukos-audit|url-status=live}}{{cite news|last1=Elder|first1=Miriam|date=10 July 2007|title=Russian court hands victory to PricewaterhouseCoopers in tax evasion case|publisher=NYTimes|url=https://www.nytimes.com/2007/07/10/business/worldbusiness/10iht-pwc.4.6595461.html|access-date=11 May 2017|archive-date=7 July 2018|archive-url=https://web.archive.org/web/20180707173129/https://www.nytimes.com/2007/07/10/business/worldbusiness/10iht-pwc.4.6595461.html|url-status=live}}

In 2010, Joe Nocera in the New York Times wrote, "In 2007, with the prospect of parole on the horizon, the same prosecutors—with what appears to be the complicity of PricewaterhouseCoopers, Yukos's longtime accounting firm—indicted the two men (Mikhail B. Khodorkovsky and Platon Lebedev), again, bringing a new round of Kafkaesque charges."{{cite news|last=Nocera|first=Joe|author-link=Joe Nocera|date=5 November 2010|title=Unyielding, an Oligarch vs. Putin|work=New York Times|url=https://www.nytimes.com/2010/11/06/business/06nocera.html|access-date=26 June 2020|archive-date=28 June 2020|archive-url=https://web.archive.org/web/20200628045348/https://www.nytimes.com/2010/11/06/business/06nocera.html|url-status=live}}

In 2010, it was revealed that the Russian government placed pressure on PwC to withdraw audits.{{cite news|last=Wilson|first=Tony|date=4 January 2010|title=Rule of law crucial for safe investment|work=The Globe and Mail|location=Toronto|url=https://www.theglobeandmail.com/report-on-business/your-business/start/tony-wilson/rule-of-law-crucial-for-safe-investment/article1856706/|archive-url=https://web.archive.org/web/20110126132516/http://www.theglobeandmail.com/report-on-business/your-business/start/tony-wilson/rule-of-law-crucial-for-safe-investment/article1856706/page1/|archive-date=26 January 2011}}{{cite news|last1=White|first1=Gregory L|date=7 September 2010|title=Oil Tycoon Says PWC Caved to Pressure|newspaper=The Wall Street Journal|url=https://www.wsj.com/articles/SB10001424052748704095704575473630120957538|access-date=11 May 2017|archive-date=20 November 2018|archive-url=https://web.archive.org/web/20181120055135/https://www.wsj.com/articles/SB10001424052748704095704575473630120957538|url-status=live}}

A cable from the U.S. embassy in Moscow stated that the trial was politically motivated and that a deposition in a U.S. court by PricewaterhouseCoopers may show that PwC was pressured by the Russian government to withdraw its prior Yukos audits. An embassy source noted that "If the audits were properly withdrawn, this will be a 'black mark' for the defense; if not, it could help the defense, but would greatly tarnish PWC's international reputation."{{cite news|last=Christodoulou|first=Mario|date=17 December 2010|title=Wikileaks reveals US concerns over PwC Yukos audits|work=Accountancy Age|url=https://www.accountancyage.com/2010/12/17/wikileaks-reveals-us-concerns-over-pwc-yukos-audits/|access-date=26 June 2020|archive-date=26 June 2020|archive-url=https://web.archive.org/web/20200626044148/https://www.accountancyage.com/2010/12/17/wikileaks-reveals-us-concerns-over-pwc-yukos-audits/|url-status=live}}{{cite news|date=3 December 2010|title=Khodorkovsky Case Discussed in Leaked Cable|work=The Moscow Times|url=https://www.themoscowtimes.com/2010/12/02/khodorkovsky-case-discussed-in-leaked-cable-a3432|access-date=26 June 2020|archive-date=28 June 2020|archive-url=https://web.archive.org/web/20200628121001/https://www.themoscowtimes.com/2010/12/02/khodorkovsky-case-discussed-in-leaked-cable-a3432|url-status=live}}

Upon the completion of the construction of the ESPO (East Siberia-Pacific Ocean) pipeline by Transneft in December 2010, an official report of the Audit Chamber of the Russian Federation suggested that $4 billion was stolen by Transneft insiders.{{cite news|date=19 November 2010|title=Transneft Accused Of Stealing $4 Billion|work=The St. Petersburg Times|url=http://www.times.spb.ru/index.php?story_id=32970&action_id=2|access-date=28 December 2010|archive-date=20 November 2018|archive-url=https://web.archive.org/web/20181120055130/http://www.times.spb.ru/index.php?story_id=32970&action_id=2|url-status=live}} One Federation Council Speaker, Sergei Mironov, called for an investigation. Alexei Navalny, a minority Transneft shareholder and lawyer, accused the company of wrongdoing in his personal blog, and criticized PwC, Transneft's auditor, of ignoring his warnings. PwC denied wrongdoing, stating that, "We believe there are absolutely no grounds for such allegations, and we stand behind our work for OAO AK Transneft."{{cite news|last1=Amos|first1=Howard|date=18 November 2010|title=Transneft Accused of $4Bln Theft|newspaper=The Moscow Times|url=https://themoscowtimes.com/articles/transneft-accused-of-4bln-theft-3083|access-date=11 May 2017|archive-date=21 January 2019|archive-url=https://web.archive.org/web/20190121223320/https://themoscowtimes.com/articles/transneft-accused-of-4bln-theft-3083|url-status=live}}

In 2007, PwC was criticised by the Treasury Select Committee of the Parliament of the United Kingdom for helping Northern Rock, a client of the firm, to sell its mortgage assets while also acting as its auditor.{{cite web|author=Alex Hawkes|date=30 March 2011|title=MPs tackle PwC over Northern Rock|url=https://www.theguardian.com/business/2011/mar/30/house-of-lords-uk-auditors-financial-crisis|access-date=17 June 2015|work=The Guardian|archive-date=7 July 2018|archive-url=https://web.archive.org/web/20180707172504/https://www.theguardian.com/business/2011/mar/30/house-of-lords-uk-auditors-financial-crisis|url-status=live}}{{cite web|author=Alistair Osborne|date=31 March 2011|title=Were Big Four auditors just guilty of failing to see wood for trees?|url=https://www.telegraph.co.uk/finance/comment/alistair-osborne/8417076/Were-Big-Four-auditors-just-guilty-of-failing-to-see-wood-for-trees.html|access-date=17 June 2015|work=The Daily Telegraph|archive-date=8 July 2018|archive-url=https://web.archive.org/web/20180708074421/https://www.telegraph.co.uk/finance/comment/alistair-osborne/8417076/Were-Big-Four-auditors-just-guilty-of-failing-to-see-wood-for-trees.html|url-status=live}} In 2011, a House of Lords inquiry criticized PwC for not drawing attention to the risks in the business model followed by Northern Rock, which was rescued by the UK government during the 2008 financial crisis.{{cite web|author=Graeme Wearden|date=4 December 2011|title=House of Lords criticises UK auditors over role in financial crisis|url=https://www.theguardian.com/business/2007/dec/04/northernrock|access-date=17 June 2015|work=The Guardian|archive-date=7 July 2018|archive-url=https://web.archive.org/web/20180707201527/https://www.theguardian.com/business/2007/dec/04/northernrock|url-status=live}}{{cite web|author=David Jetuah|date=4 December 2011|title=PwC urged to return Northern Rock fees|url=http://www.accountancyage.com/aa/news/1772315/pwc-urged-return-northern-rock-fees|access-date=17 June 2015|work=Accountancy Age}}

In 2012, the Accountancy and Actuarial Discipline Board (AADB) of the UK fined PwC a record £1.4m for wrongly reporting to the Financial Services Authority that JP Morgan Securities had complied with client money rules which protects client funds. The accountants neglected to check whether JP Morgan had the correct systems in place and failed to gather sufficient evidence to form opinions on the issue, and as a result, failed to report that JP Morgan failed to hold client money separate from JP Morgan's money. The £1.4m fine was at the time the greatest penalty administered to a professional accountancy firm in the UK.{{cite news|author=Anna White|date=5 January 2012|title=PwC fined record £1.4m over JP Morgan audit|work=The Daily Telegraph|url=https://www.telegraph.co.uk/finance/newsbysector/supportservices/8995981/PwC-fined-record-1.4m-over-JP-Morgan-audit.html|access-date=5 April 2018|archive-date=11 January 2022|archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/finance/newsbysector/supportservices/8995981/PwC-fined-record-1.4m-over-JP-Morgan-audit.html|url-status=live}}

PwC was found to be unethically favored by the World Bank in a bid to privatize the water distribution system of Delhi, India, an effort that was alleged as corrupt by investigators.{{cite web|title=RTI expose of how World Bank had arm-twisted Delhi Jal Board for water privatisation|url=http://www.moneylife.in/article/rti-expose-of-how-world-bank-had-arm-twisted-delhi-jal-board-for-water-privatisation/23217.html|work=Moneylife|access-date=25 December 2012|archive-date=6 January 2023|archive-url=https://web.archive.org/web/20230106222105/https://www.moneylife.in/article/rti-expose-of-how-world-bank-had-arm-twisted-delhi-jal-board-for-water-privatisation/23217.html|url-status=live}} When bidding took place, PwC repeatedly failed in each round, and the World Bank in each case pressured PwC to be pushed to the next round and eventually win the bid. The effort at privatization fell through when an investigation was conducted by Arvind Kejriwal and the non-governmental organization (NGO) Parivartan in 2005.

After submitting a Right to Information (RTI) request, Parivartan received 9000 pages of correspondence and consultation with the World Bank, where it was revealed that the privatization of Delhi's water supply would provide salaries of $25,000 a month to four administrators of each of the 21 water zones, which amounted to over $25 million per year, increasing the budget by over 60% and water taxes 9 times.{{cite web|title=Independent People's Tribunal on The World Bank in India: Program: Arvind Kejriwal|url=http://www.worldbanktribunal.org/Delhi_privatisation.html|work=worldbanktribunal.org|access-date=25 December 2012|archive-date=27 October 2017|archive-url=https://web.archive.org/web/20171027002546/http://www.worldbanktribunal.org/Delhi_privatisation.html|url-status=live}}{{YouTube|-tqaLMOgPH0|How World-Bank Dicatates Indian Policies}}. BharatKiAwaaz.

The Delhi Jal Board (DJB), which administers the water system of Delhi, was first approached by Parivartan in November 2004, following a report by the newspaper The Asian Age, where the scheme was revealed to the public for the first time. The DJB denied the existence of the project, but after an appeal, the RTI request was granted. The documents revealed that the project began in 1998, in complete secrecy within the DJB administration.

The DJB approached the World Bank for a loan to improve the water system, which it approved, and the effort began with a $2.5 million consultation loan. The Delhi government could have easily provided the money, and the interest rate of 12% that was to be loaned by the World Bank could have been raised on capital markets for 6%. Following the consultation, 35 multinational companies bid, of which six were to be shortlisted. When PwC was in 10th place, the World Bank said that at least one company should be from a developing country, and since PwC made the bid from its Kolkata office, it was dubbed an "Indian" company, and its rank was raised to 6th.

When PwC failed in the second round, the World Bank pressured the DJB to start over with a fresh round of bidding. Only one company succeeded in the new round that was not PwC, and the World Bank had the lowest marks from an evaluator thrown out. The contract was awarded to PwC in 2001.{{cite web|title=RTI Spurs Debate on World Bank Involvement in Delhi Water Deal|url=http://www.humanrightsinitiative.org/programs/ai/rti/india/states/delhi/rti_spurs_debate_on_world_bank_delhi_water_project.pdf|publisher=Commonwealth Human Rights Initiative|access-date=25 December 2012|archive-date=21 October 2012|archive-url=https://web.archive.org/web/20121021060004/http://www.humanrightsinitiative.org/programs/ai/rti/india/states/delhi/rti_spurs_debate_on_world_bank_delhi_water_project.pdf|url-status=live}} Following the investigation by Parivartan, a campaign was waged by Kejriwal, Aruna Roy, and other activists across Delhi and the DJB withdrew the loan application to the World Bank.

In 2013, Cattles plc brought a legal action against PwC in the UK in respect of 2006 and 2007 audits, claiming that PwC had failed to carry out adequate investigations.{{cite news|last=Doherty|first=Raymond|date=5 March 2013|title=PwC failed as 'competent auditor', says Cattles|work=Economia|url=http://economia.icaew.com/news/march-2013/pwc-failed-as-competent-auditor|archive-url=https://archive.today/20130923164052/http://economia.icaew.com/news/march-2013/pwc-failed-as-competent-auditor|archive-date=23 September 2013}} Cattles, a UK consumer finance company, later discovered control weaknesses which caused its loan book to be materially overstated in its balance sheet; having been listed as a FTSE250 company, it subsequently lost its listing. PwC disputed this legal claim.[https://www.thetimes.com/business-money/companies/article/cattles-failure-was-nothing-to-do-with-us-says-angry-pwc-rxr50l5mpks Cattles' failure was nothing to do with us, says angry PwC] The Times, 17 July 2013 The claim was settled out of court on undisclosed terms.[http://economia.icaew.com/news/october-2015/pwc-settles-cattles-lawsuit PwC settles Cattles lawsuit] {{Webarchive|url=https://web.archive.org/web/20170304145433/http://economia.icaew.com/news/october-2015/pwc-settles-cattles-lawsuit |date=4 March 2017 }} Economia October 2015

The Financial Reporting Council (FRC) issued a fine of £2.3m on PwC and ordered the firm to pay £750,000 costs following their investigation of the 2007 audits of Cattles and its principal trading subsidiary. PwC admitted their "conduct fell significantly short of the standards reasonably to be expected of a member firm" in respect of the 2007 financial statements. The FRC said that PwC had insufficient audit evidence as to the adequacy of loan loss provisions.[https://www.theguardian.com/business/2016/aug/31/pwc-fined-over-auditing-of-subprime-lender-cattles PwC fined £2.3m over auditing of subprime lender Cattles] {{Webarchive|url=https://web.archive.org/web/20171012002154/https://www.theguardian.com/business/2016/aug/31/pwc-fined-over-auditing-of-subprime-lender-cattles |date=12 October 2017 }} The Guardian 31 August 2016

In 2015, PwC Ireland was sued by the joint administrators of Quinn Insurance Limited (QIL) for €1bn. Having been audited by PwC for the years 2005 to 2008, QIL went into administration in 2010. The administrators alleged that PwC should have identified a material understatement of QIL's provisions for claims.{{cite news|date=7 May 2015|title=PwC claims €1bn Quinn Insurance action 'poised on cliff'|newspaper=Irish Times|url=http://www.irishtimes.com/business/financial-services/pwc-claims-1bn-quinn-insurance-action-poised-on-cliff-1.2202607|access-date=12 June 2015|archive-date=14 July 2015|archive-url=https://web.archive.org/web/20150714213353/http://www.irishtimes.com/business/financial-services/pwc-claims-1bn-quinn-insurance-action-poised-on-cliff-1.2202607|url-status=live}}{{cite web|date=19 May 2015|title=More details sought in case against PWC over Quinn Insurance accounts|url=http://www.rte.ie/news/business/2015/0519/702340-quinn-insurance-pwc/|access-date=12 June 2015|publisher=RTE News|archive-date=14 June 2015|archive-url=https://web.archive.org/web/20150614100111/http://www.rte.ie/news/business/2015/0519/702340-quinn-insurance-pwc/|url-status=live}}

Connaught plc, a UK former FTSE 250 Index outsourcing company operating in property maintenance for the social housing and public sector, was put into administration in 2010 after reporting material losses. In 2017, the Financial Reporting Council (FRC) severely reprimanded PwC and its audit partner following an investigation of their conduct in respect of the 2009 audit of Connaught. PwC was fined a record £5 million plus costs.{{cite web|date=11 May 2017|title=PwC fined £5m over Connaught audit|url=https://www.bbc.co.uk/news/business-39881001|access-date=13 May 2017|publisher=BBC|archive-date=26 April 2019|archive-url=https://web.archive.org/web/20190426220253/https://www.bbc.co.uk/news/business-39881001|url-status=live}}

In 2014, Tesco, a UK retailer, announced that it had overstated profits by £263m by misreporting discounts with suppliers. The Financial Reporting Council started an investigation into accounting practices at Tesco and into the conduct of PwC in carrying out its audits in 2012, 2013 and 2014.[http://economia.icaew.com/news/december-2014/frc-launches-pwc-tesco-investigation FRC launches Tesco investigation] {{Webarchive|url=https://web.archive.org/web/20171212084830/http://economia.icaew.com/news/december-2014/frc-launches-pwc-tesco-investigation |date=12 December 2017 }} Economia December 2014 Two members of Tesco's Audit Committee, responsible for monitoring Tesco's relationship with its auditors, had themselves previously worked for PwC, including its chairman, Ken Hanna; he later stood down.[http://economia.icaew.com/opinion/october-2014/tesco-an-opportunity-for-audit Tesco : an opportunity for audit] {{Webarchive|url=https://web.archive.org/web/20171212084932/http://economia.icaew.com/opinion/october-2014/tesco-an-opportunity-for-audit |date=12 December 2017 }} Economia October 2014

In 2015 PwC were replaced as auditors of Tesco, ending a 32-year engagement, following a tender process to which they did not participate.[https://www.bloomberg.com/news/articles/2015-05-11/tesco-ends-32-year-pwc-relationship-after-accounting-scandal Tesco Ends 32-Year PwC Relationship After Accounting Scandal] {{Webarchive|url=https://web.archive.org/web/20161017075116/http://www.bloomberg.com/news/articles/2015-05-11/tesco-ends-32-year-pwc-relationship-after-accounting-scandal |date=17 October 2016 }} Bloomberg.com May 2015 In June 2017, the Financial Reporting Council said there was no "realistic prospect" that a tribunal of the UK's accountancy watchdog would rule against the auditor PwC concerning its involvement in Tesco's 2014 case.{{cite news|last1=Martin|first1=Kate|date=5 June 2017|title=Accounting watchdog closes PwC/Tesco probe|newspaper=Financial Times|url=https://www.ft.com/content/7a03dfa3-72cc-3af3-9950-ceb61b3f6f57 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/7a03dfa3-72cc-3af3-9950-ceb61b3f6f57 |archive-date=10 December 2022 |url-access=subscription |url-status=live|access-date=6 June 2017}}

In 2014, The Bank of Tokyo-Mitsubishi UFJ was investigated by New York banking regulators over its role in routing payments for Iranian customers through its New York branch in violation of U.S. sanctions. It was found that PwC had altered an investigation report on the issue; PwC itself was fined $25 million in relation to the matter.{{cite news|date=18 November 2014|title=Bank of Tokyo Fined for 'Misleading' New York Regulator on Iran|work=The New York Times DealBook|url=https://dealbook.nytimes.com/2014/11/18/lawsky-fines-bank-of-tokyo-mitsubishi-ufj-another-315-million/|access-date=10 April 2015|archive-date=26 March 2019|archive-url=https://web.archive.org/web/20190326114312/https://dealbook.nytimes.com/2014/11/18/lawsky-fines-bank-of-tokyo-mitsubishi-ufj-another-315-million/|url-status=live}}

{{Main|Luxembourg Leaks}}

File:Tax ruling luxembourg.png

The firm helped multinational companies obtain 548 legal tax rulings in Luxembourg between 2002 and 2010. The rulings provided written assurance that the multinational companies' tax-saving plans would be seen favorably by the Luxembourg authorities. The companies saved billions of dollars in taxes with these arrangements. Some firms paid less than one percent tax on the profits they shifted to Luxembourg. Employees or former employees of PwC provided documentation of the rulings to journalists.{{Cite news|title=Is Your Head Spinning? 5 Tips to Understand the 'Lux Leaks' Files|language=en|work=International Consortium of Investigative Journalists|url=https://www.icij.org/project/luxembourg-leaks/your-head-spinning-5-tips-understand-lux-leaks-files|access-date=10 May 2017|archive-date=21 March 2016|archive-url=https://web.archive.org/web/20160321090217/http://www.icij.org/project/luxembourg-leaks/your-head-spinning-5-tips-understand-lux-leaks-files|url-status=live}}ICIJ [http://www.icij.org/project/luxembourg-leaks/explore-documents-luxembourg-leaks-database Explore the Documents: Luxembourg Leaks Database] {{Webarchive|url=https://web.archive.org/web/20141126081141/http://www.icij.org/project/luxembourg-leaks/explore-documents-luxembourg-leaks-database |date=26 November 2014 }} In 2013 and 2014, PwC UK's head of tax was called before the UK's public accounts committee and was questioned about lying regarding the marketing of these tax avoidance schemes. He told the committee the financing, investments, and tax structure is legal and well known to the British government. "If you want to change the Lux tax regime, the politicians could change the Lux tax regime."The Guardian, [https://www.theguardian.com/business/2014/dec/08/pwc-kevin-nicholson-tax-scheme-mps-luxembourg PriceWaterhouseCoopers chief Kevin Nicholson denies lying over tax deals] {{Webarchive|url=https://web.archive.org/web/20180707172948/https://www.theguardian.com/business/2014/dec/08/pwc-kevin-nicholson-tax-scheme-mps-luxembourg |date=7 July 2018 }}

The disclosures attracted international attention and comment about tax avoidance schemes in Luxembourg and other tax havens. The revelations later led to a series of EU-wide measures aimed at regulating tax avoidance schemes and tax probes into several EU companies. In 2016, PwC initiated charges against the two whistleblowers that revealed the LuxLeaks tax controversy, and they were convicted and sentenced with suspended prison sentences and fined. In March 2017, a Luxembourg appeals court upheld the convictions of the two whistleblowers, but with reduced sentences.{{cite web|last=Ariès|first=Quentin|date=15 March 2017|title=LuxLeaks whistleblowers get lighter sentences|url=http://www.politico.eu/article/luxleaks-whistleblowers-get-lighter-sentences/|access-date=10 May 2017|website=Politico|archive-date=25 November 2018|archive-url=https://web.archive.org/web/20181125185547/https://www.politico.eu/article/luxleaks-whistleblowers-get-lighter-sentences/|url-status=live}}

In 2015, the Bill & Melinda Gates Foundation of Microsoft founder Bill Gates sued oil company Petrobras and accounting firm PwC's Brazil arm over investment losses due to corruption at the Brazilian oil company. The filings also alleged that PwC's Brazil affiliate, PricewaterhouseCoopers Auditores Independentes, played a significant role by attesting to Petrobras financial statements and ignoring warnings.{{cite web|title=Bill Gates sues oil giant Petrobras and PwC over corruption scandal|url=https://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11892400/Bill-Gates-sues-oil-giant-Petrobras-and-PwC-over-corruption-scandal.html|access-date=4 April 2016|website=Telegraph.co.uk|date=25 September 2015|archive-date=12 January 2022|archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11892400/Bill-Gates-sues-oil-giant-Petrobras-and-PwC-over-corruption-scandal.html|url-status=live}}

In 2016, Luke Sayers, then CEO of PwC Australia,{{Cite news|date=8 September 2016|title=Luke Sayers, corporate politician|language=en-US|work=Financial Review|url=http://www.afr.com/brand/boss/pwc-boss-luke-sayers-thrives-in-adversity-20160517-gowtd5|access-date=13 August 2017|archive-date=9 December 2018|archive-url=https://web.archive.org/web/20181209032635/https://www.afr.com/brand/boss/pwc-boss-luke-sayers-thrives-in-adversity-20160517-gowtd5|url-status=live}}{{cite web|title=PwC Australia Appoints New CEO {{!}} Big4.com|url=http://www.big4.com/pricewaterhousecoopers/pwc-australia-appoints-new-ceo/|url-status=dead|archive-url=https://web.archive.org/web/20170813143516/http://www.big4.com/pricewaterhousecoopers/pwc-australia-appoints-new-ceo/|archive-date=13 August 2017|access-date=13 August 2017|website=www.big4.com|language=en-US}} had the firm prepare a report projecting the excessive cost of a plebiscite on gay marriage.{{Cite news|date=14 March 2016|title=Same-sex marriage vote has $525m price tag, study finds|language=en-AU|work=ABC News|url=http://www.abc.net.au/news/2016-03-14/525-million-price-tag-on-same-sex-marriage-plebiscite-study/7243298|access-date=13 August 2017|archive-date=14 May 2018|archive-url=https://web.archive.org/web/20180514043520/http://www.abc.net.au/news/2016-03-14/525-million-price-tag-on-same-sex-marriage-plebiscite-study/7243298|url-status=live}} Mark Allaby, a senior executive at PwC, left the board of the religious lobbying organisation Australian Christian Lobby, a group campaigning against same-sex marriage, following public outrage and pressure from PwC Australia.{{cite web|date=1 March 2016|title=PwC exec leaves Australian Christian Lobby board|url=https://www.crikey.com.au/2016/03/01/pwc-exec-leaves-australian-christian-lobby-board/|access-date=13 August 2017|website=Crikey|archive-date=8 April 2019|archive-url=https://web.archive.org/web/20190408041215/https://www.crikey.com.au/2016/03/01/pwc-exec-leaves-australian-christian-lobby-board/|url-status=live}}

In 2007, shopping center giant Centro understated its liabilities by more than $3 billion and almost collapsed when it was unable to refinance its debt during the 2008 financial crisis.{{Cite news|date=9 May 2012|title=Centro, PwC take record $200m legal hit|language=en-US|work=Financial Review|url=http://www.afr.com/real-estate/commercial/centro-pwc-take-record-200m-legal-hit-20120508-j2v7s|url-status=dead|access-date=13 August 2017|archive-url=https://web.archive.org/web/20170813143154/http://www.afr.com/real-estate/commercial/centro-pwc-take-record-200m-legal-hit-20120508-j2v7s|archive-date=13 August 2017}} PwC was Centro's auditor and admitted negligence. In 2012, Centro and PwC paid a $200 million settlement to resolve the shareholder class action, the largest ever in Australia.{{Cite news|last=Battersby|first=Lucy|date=20 November 2012|title=PwC auditor sidelined until 2015 for $2.1b Centro debt bungle|language=en-US|work=The Sydney Morning Herald|url=http://www.smh.com.au/business/pwc-auditor-sidelined-until-2015-for-21b-centro-debt-bungle-20121119-29m5v.html|access-date=13 August 2017|archive-date=14 August 2017|archive-url=https://web.archive.org/web/20170814123545/http://www.smh.com.au/business/pwc-auditor-sidelined-until-2015-for-21b-centro-debt-bungle-20121119-29m5v.html|url-status=live}}

In 2016, PwC in the UK was investigated by the Financial Reporting Council over its conduct in relation to the audit of BHS for the year to 30 August 2014. PwC completed their audit of financial statements in which BHS was described as a going concern days before its sale for £1 to a consortium with no retail experience. BHS collapsed the following year with a substantial deficit in its pension fund.[https://www.accountancyage.com/2016/05/24/pwc-questioned-over-bhs-going-concern-audit/ PwC questioned over BHS ‘going concern’ audit] {{Webarchive|url=https://web.archive.org/web/20171120105010/https://www.accountancyage.com/2016/05/24/pwc-questioned-over-bhs-going-concern-audit/ |date=20 November 2017 }} Accountancy Age May 2016

In 2016, a United States federal judge rejected PwC's bid to dismiss a $3 billion lawsuit accusing the accounting firm of professional malpractice for helping cause the October 2011 bankruptcy of MF Global, a brokerage once run by former New Jersey Governor Jon Corzine.{{cite news|title=PwC must face $1 billion MF Global malpractice lawsuit: U.S. judge|website=Reuters|date=5 August 2016|url=https://www.reuters.com/article/us-mfglobal-pwc-decision-idUSKCN10G1VJ?il=0|access-date=6 August 2016|archive-date=20 November 2018|archive-url=https://web.archive.org/web/20181120095420/https://www.reuters.com/article/us-mfglobal-pwc-decision-idUSKCN10G1VJ?il=0|url-status=live}}{{cite news | title=Judge Says MF Global Lawsuit Against PwC Can Proceed | newspaper=Wall Street Journal | date=5 August 2016 | url=https://www.wsj.com/articles/judge-says-mf-global-lawsuit-against-pwc-can-proceed-1470427038 | access-date=6 August 2016 | last1=Fitzgerald | first1=Patrick | archive-date=26 April 2019 | archive-url=https://web.archive.org/web/20190426105859/https://www.wsj.com/articles/judge-says-mf-global-lawsuit-against-pwc-can-proceed-1470427038 | url-status=live }}{{cite web|title=Largest lawsuit against an auditor goes to court for $5.5 billion|website=Miami Herald|url=http://www.miamiherald.com/news/business/banking/article92700782.html|access-date=6 August 2016|archive-date=13 February 2019|archive-url=https://web.archive.org/web/20190213114438/https://www.miamiherald.com/news/business/banking/article92700782.html|url-status=live}}

BT Group (British Telecom), a client of PwC, reported in 2017, that profits in its Italian subsidiary had been over-stated by £530 million. BT reportedly sought the immediate replacement of PwC as auditors following a breakdown of trust, but had existing commercial relationships with the other Big 4 firms which would have prevented their early appointment.{{cite web|date=29 March 2017|title=BT in urgent hunt for 'clean' auditor after £530m Italy scandal|url=http://news.sky.com/story/bt-in-urgent-hunt-for-clean-auditor-after-163530m-italy-scandal-10817472|access-date=30 May 2017|publisher=Sky News|archive-date=1 April 2017|archive-url=https://web.archive.org/web/20170401183947/http://news.sky.com/story/bt-in-urgent-hunt-for-clean-auditor-after-163530m-italy-scandal-10817472|url-status=live}} BT subsequently stated that its audit would be put out to tender to identify a replacement for PwC,{{cite web|date=12 May 2017|title=BT looking for new auditor after 33 years with PwC|url=http://economia.icaew.com/en/news/may-2017/bt-looking-for-new-auditor-after-33-years-with-pwc|access-date=30 May 2017|publisher=Economia|archive-date=11 November 2018|archive-url=https://web.archive.org/web/20181111044104/https://economia.icaew.com/en/news/may-2017/bt-looking-for-new-auditor-after-33-years-with-pwc|url-status=live}} In June 2017, the Financial Reporting Council began an investigation of PwC's audits of BT covering the years 2015 through 2017.{{cite web|date=29 June 2017|title=BT Italy scandal prompts auditing probe|url=https://www.bbc.co.uk/news/business-40441128|access-date=14 July 2017|publisher=BBC|archive-date=21 April 2019|archive-url=https://web.archive.org/web/20190421130655/https://www.bbc.co.uk/news/business-40441128|url-status=live}}

{{See also|89th Academy Awards#Best Picture announcement error}}

At the 89th Academy Awards in 2017 La La Land was incorrectly announced as the winner of Best Picture after PwC partner Brian Cullinan gave presenters Warren Beatty and Faye Dunaway the wrong envelope. PwC was responsible for tabulating the results, preparing the envelopes, and handing them to presenters.{{Cite news|title=Oscars: How the Wrong Envelope Triggered a Best Picture Fiasco|language=en|work=The Hollywood Reporter|url=http://www.hollywoodreporter.com/news/oscars-how-wrong-envelope-triggered-a-best-picture-fiasco-980910|access-date=9 May 2017|archive-date=7 July 2018|archive-url=https://web.archive.org/web/20180707231259/https://www.hollywoodreporter.com/news/oscars-how-wrong-envelope-triggered-a-best-picture-fiasco-980910|url-status=live}}

It was called "as bad a mess-up as you could imagine."{{cite news|last1=Pylas|first1=Pan|date=27 February 2017|title=PwC's hard-won reputation under threat after Oscars mix-up|work=The Chicago Tribune|agency=Associated Press|url=http://www.chicagotribune.com/business/ct-pwc-pricewaterhousecoopers-oscars-mix-up-20170227-story.html|access-date=27 February 2017|archive-date=15 April 2019|archive-url=https://web.archive.org/web/20190415124744/https://www.chicagotribune.com/business/ct-pwc-pricewaterhousecoopers-oscars-mix-up-20170227-story.html|url-status=live}} The firm took "full responsibility" for handing the presenters the wrong envelope and apologized for the error,{{Cite news|last=Rapoport|first=Michael|date=27 February 2017|title=Oscar Overseer PricewaterhouseCoopers Apologizes for Award Mixup|work=The Wall Street Journal|url=https://www.wsj.com/articles/oscar-overseer-pricewaterhousecoopers-apologizes-for-award-mixup-1488185702|access-date=9 May 2017|issn=0099-9660|archive-date=25 November 2018|archive-url=https://web.archive.org/web/20181125151111/https://www.wsj.com/articles/oscar-overseer-pricewaterhousecoopers-apologizes-for-award-mixup-1488185702|url-status=live}} acknowledging that Cullinan and PwC partner Martha Ruiz did not follow protocols for correcting the error quickly. In March 2017, the board of governors for the Academy voted to retain the services of accounting firm PricewaterhouseCoopers, despite the mix-up, saying "new protocols have been established including greater oversight from PwC's U.S. chairman Tim Ryan."{{cite news|author=Sandra Gonzalez and Megan Thomas|title=PwC: 'We failed the Academy' in best picture mess up|website=CNN|url=http://www.cnn.com/2017/02/27/entertainment/oscars-mix-up-pricewaterhousecoopers/index.html|access-date=9 May 2017|archive-date=11 November 2018|archive-url=https://web.archive.org/web/20181111203119/https://www.cnn.com/2017/02/27/entertainment/oscars-mix-up-pricewaterhousecoopers/index.html|url-status=live}}

PwC Ukraine had its audit license removed by the National Bank of Ukraine in July 2017 for its alleged "verification of misrepresented financial information" leading to a $5.5 billion balance-sheet hole in PrivatBank.{{cite news|last=Olearchyk|first=Roman|date=20 July 2017|title=Ukraine pulls PwC bank audit licence over $5.5bn hole at top lender|newspaper=Financial Times|url=https://www.ft.com/content/9a46c818-6d7e-11e7-b9c7-15af748b60d0 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/9a46c818-6d7e-11e7-b9c7-15af748b60d0 |archive-date=10 December 2022 |url-access=subscription|access-date=25 July 2017}} The government of Ukraine had had to rescue PrivatBank by nationalisation in 2016 to protect its 20 million customers.{{cite news|date=19 December 2016|title=Ukraine's biggest lender PrivatBank nationalised|work=BBC News|url=https://www.bbc.co.uk/news/business-38365579|access-date=25 July 2017|archive-date=15 April 2019|archive-url=https://web.archive.org/web/20190415131746/https://www.bbc.co.uk/news/business-38365579|url-status=live}}

In 2017, the U.S. District Court for the Middle District of Alabama held PwC liable for professional negligence in its audit of Colonial Bank, which failed in 2009, after filing materially false financial information with the SEC. In 2018, a federal judge later ordered PwC to pay the FDIC $625 million, the largest-ever judgement against a U.S. audit firm.{{Cite news|first=Francine|last=McKenna|date=4 July 2018|title=Colonial Bank Award Against PWC Is Window Into Typically Secret Settlements|language=en-US|work=The Wall Street Journal|url=https://www.wsj.com/articles/colonial-bank-award-against-pwc-is-window-into-typically-secret-settlements-1530725672|access-date=30 March 2019|issn=0099-9660}} The FDIC reached a $335 million settlement with PwC in March 2019.{{Cite news|last=Barba|first=Robert|date=15 March 2019|title=PricewaterhouseCoopers Settles With FDIC Over Failed Bank Audits|language=en-US|work=The Wall Street Journal|url=https://www.wsj.com/articles/pricewaterhousecoopers-settles-with-fdic-over-failed-bank-audits-11552673898|access-date=30 March 2019|issn=0099-9660|archive-date=30 March 2019|archive-url=https://web.archive.org/web/20190330013738/https://www.wsj.com/articles/pricewaterhousecoopers-settles-with-fdic-over-failed-bank-audits-11552673898|url-status=live}}

In 2018, PwC was accused of disproportionately hiring younger workers and fostering "an age-conscious workplace in which youth is highly valued."{{Cite news|last=Gee|first=Kelsey|date=28 February 2018|title=Campus Recruiting Hurts Older Workers, Suit Against PricewaterhouseCoopers Claims|language=en-US|work=The Wall Street Journal|url=https://www.wsj.com/articles/suit-claims-pwcs-campus-recruiting-disadvantages-older-job-seekers-1519850508|access-date=1 April 2019|issn=0099-9660|archive-date=1 April 2019|archive-url=https://web.archive.org/web/20190401160422/https://www.wsj.com/articles/suit-claims-pwcs-campus-recruiting-disadvantages-older-job-seekers-1519850508|url-status=live}} Plaintiffs estimated that younger applicants are over 500% more likely to be hired than candidates over age 40. In March 2019, a collective action related to the case was certified by a federal judge in San Francisco.{{Cite web|date=March 28, 2019|first=Ross|last=Todd|title=PricewaterhouseCoopers Faces Collective Action in Age Bias Case|url=https://www.law.com/therecorder/2019/03/28/pricewaterhousecoopers-faces-collective-action-in-age-bias-case/|access-date=1 April 2019|website=The Recorder|language=en|archive-date=8 October 2024|archive-url=https://web.archive.org/web/20241008152708/https://www.law.com/therecorder/2019/03/28/pricewaterhousecoopers-faces-collective-action-in-age-bias-case/?slreturn=20241008112709|url-status=live}}

In 2018, PwC Australia CEO Luke Sayers was connected to perceived conflict of interest issues on a related to a personal investment in Australian Visa Processing (AVP),{{Cite web|date=16 July 2018|title=PwC Australia to review partner investments after global intervention|url=https://www.afr.com/street-talk/pwc-australia-to-review-partner-investments-after-global-intervention-20180716-h12q91|access-date=22 April 2020|website=Australian Financial Review|language=en|archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806134310/https://www.afr.com/street-talk/pwc-australia-to-review-partner-investments-after-global-intervention-20180716-h12q91|url-status=live}} a company part-owned by PwC that was submitting a tender to redesign and run Australia's visa processing system that is potentially worth billions of dollars, which would result in a significant financial advantage for its investors.{{Cite web|title=Home Affairs $1bn visa platform outsourcing riddled with IT risks|url=https://www.itnews.com.au/news/home-affairs-1bn-visa-platform-outsourcing-riddled-with-it-risks-531488|access-date=22 April 2020|website=iTnews|archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806152807/https://www.itnews.com.au/news/home-affairs-1bn-visa-platform-outsourcing-riddled-with-it-risks-531488|url-status=live}}

This investment led to a "storm inside the firm",{{Cite web|date=19 September 2018|title=Tension lingers at PwC over visa investments|url=https://www.afr.com/street-talk/tension-lingers-at-pwc-over-visa-investments-20180919-h15kqu|access-date=22 April 2020|website=Australian Financial Review|language=en|archive-date=8 October 2024|archive-url=https://web.archive.org/web/20241008152707/https://www.afr.com/street-talk/tension-lingers-at-pwc-over-visa-investments-20180919-h15kqu|url-status=live}} interjection by PwC Global and a review by PwC Australia of its personal investment policy for partners. The option to invest had not been offered to all partners or even the entire firm. A review was announced around the way partners make personal investments.{{Cite web|date=17 July 2018|title=Accountants can invest in consulting clients, raising conflict fears|url=https://www.afr.com/companies/professional-services/accountants-can-invest-in-consulting-clients-raising-conflict-fears-20180717-h12soh|access-date=22 April 2020|website=Australian Financial Review|language=en|archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806154914/https://www.afr.com/companies/professional-services/accountants-can-invest-in-consulting-clients-raising-conflict-fears-20180717-h12soh|url-status=live}}

During 2019, PwC's US affiliate agreed to pay more than $7.9 million to its US regulator, the Securities and Exchange Commission (SEC), to settle allegations that it improperly performed IT and other non-audit services for several audit clients.{{Cite news|last=Heller|first=Matthew|date=24 September 2019|title=PwC Fined $7M for Audit Independence Violations|work=CFO.com|url=https://www.cfo.com/accounting-tax/2019/09/pwc-fined-7m-for-audit-independence-violations/#:~:text=2022%20Outlook%3A%20CFOs'%204%20realms,audit%20services%20for%20audit%20clients.&text=must%20ensure%20that%20non%2Daudit,public%20companies%2C%E2%80%9D%20Anita%20B.|access-date=28 January 2022}}

In 2020, the International Consortium of Investigative Journalists (ICIJ) leaked over 700,000 internal documents revealing that PwC had facilitated multiple dealings in which Isabel dos Santos, the daughter of former President of Angola José Eduardo dos Santos, made a fortune while in charge of the state oil company, Sonangol. Dos Santos established a network of over 400 companies to facilitate tax evasion and the steering of millions of dollars of Angolan state contracts to companies under her control.{{cite web|last1=Freedberg|first1=Sydney P.|last2=Alecci|first2=Scilla|last3=Fitzgibbon|first3=Will|last4=Dalby|first4=Douglas|last5=Reuter|first5=Delphine|date=19 January 2020|title=The Luanda Leaks: How Africa's Richest Woman Exploited Family Ties, Shell Companies And Inside Deals to Build an Empire|url=https://www.icij.org/investigations/luanda-leaks/how-africas-richest-woman-exploited-family-ties-shell-companies-and-inside-deals-to-build-an-empire/|access-date=3 February 2020|publisher=International Consortium of Investigative Journalism|archive-date=20 January 2020|archive-url=https://web.archive.org/web/20200120130611/https://www.icij.org/investigations/luanda-leaks/how-africas-richest-woman-exploited-family-ties-shell-companies-and-inside-deals-to-build-an-empire/|url-status=live}}

Her husband, Congolese businessman and art collector Sindika Dokolo, made millions from a suspiciously one-sided partnership with the state diamond company, SODIAM, to buy a stake in Swiss luxury jeweler De Grisogono.{{cite web|date=20 January 2020|title=Isabel dos Santos: Africa's richest woman 'ripped off Angola'|url=https://www.bbc.com/news/world-africa-51128950|access-date=20 January 2020|website=BBC News|publisher=British Broadcasting Corporation|archive-date=1 December 2020|archive-url=https://web.archive.org/web/20201201094438/https://www.bbc.com/news/world-africa-51128950|url-status=live}} After ICIJ's revelations, PwC indicated it would terminate its relationship with Dos Santos.

During November 2017, PwC was engaged in due diligence and valuation of the media company, MBC Group, owned by Saudi businessman, Waleed bin Ibrahim Al Ibrahim, who was allegedly held against his wishes at the Ritz-Carlton in Riyadh as part of an attempt to coerce him into selling it to the Saudi Crown Prince.{{Cite book|last=Hubbard|first=Ben|title=MBS|publisher=Crown, an imprint of Random House|year=2020|isbn=9781984823830|location=New York|pages=283}}

In July 2021, PwC was sued by administrators Alvarez and Marsal on behalf of JD Classics, a UK-based car dealership, for negligence related to audits in 2016 and 2017.{{Cite web|title=Competency of PwC's JD Classics audits may be questioned in High Court|url=https://www.am-online.com/news/latest-news/2021/07/27/competency-of-pwc-s-jd-classics-audits-may-be-questioned-in-high-court|access-date=11 September 2021|website=www.am-online.com|language=en|archive-date=11 September 2021|archive-url=https://web.archive.org/web/20210911103715/https://www.am-online.com/news/latest-news/2021/07/27/competency-of-pwc-s-jd-classics-audits-may-be-questioned-in-high-court|url-status=live}} A failure to identify fraud at the company led to losses of £41m. PwC responded with a statement that "this claim [lacks] merit and [we] will be vigorously defending it."{{Cite news|title=Become an FT subscriber to read {{!}} Financial Times|url=https://www.ft.com/content/baed7799-a314-468c-ad8b-88ca590b2af1|access-date=11 September 2021|newspaper=Financial Times|date=27 July 2021|archive-date=11 September 2021|archive-url=https://web.archive.org/web/20210911103718/https://www.ft.com/content/baed7799-a314-468c-ad8b-88ca590b2af1|url-status=live}}

In 2021, an investigation by the New York Times found that PwC staff sought employment at the Treasury Department where they pursued policies that helped PwC clients. After completing their time at the Treasury Department, the staff were promoted to partner at PwC.{{Cite news|last1=Drucker|first1=Jesse|last2=Hakim|first2=Danny|date=19 September 2021|title=How Accounting Giants Craft Favorable Tax Rules From Inside Government|language=en-US|work=The New York Times|url=https://www.nytimes.com/2021/09/19/business/accounting-firms-tax-loopholes-government.html|access-date=19 September 2021|issn=0362-4331|archive-date=19 September 2021|archive-url=https://web.archive.org/web/20210919091132/https://www.nytimes.com/2021/09/19/business/accounting-firms-tax-loopholes-government.html|url-status=live}}

PwC has audited Evergrande, a Chinese property company, since 2009 and received fees worth $42 million for doing so.{{Cite news |last=Foy |first=Simon |date=15 October 2021 |title=Hong Kong watchdog to investigate PwC audit of Evergrande accounts |url=https://www.telegraph.co.uk/business/2021/10/15/hong-kong-watchdog-investigate-pwc-audit-evergrande-accounts/ |access-date=25 October 2021 |work=The Telegraph |archive-date=25 October 2021 |archive-url=https://web.archive.org/web/20211025160505/https://www.telegraph.co.uk/business/2021/10/15/hong-kong-watchdog-investigate-pwc-audit-evergrande-accounts/ |url-status=live }} By 2021, Evergrande had collapsed financially and set off the Chinese property sector crisis, which sparked questions about PwC's role in inflating the company's revenue prior to the firm's eventual bankruptcy.{{Cite web |date=2024 |title=China is investigating the role of Big 4 accountant PwC in $78 billion Evergrande fraud case |url=https://fortune.com/asia/2024/03/22/china-investigating-role-big-4-accountant-pwc-78-billion-evergrande-fraud-case/ |website=Fortune Asia |language=en |access-date=22 March 2024 |archive-date=22 March 2024 |archive-url=https://web.archive.org/web/20240322112526/https://fortune.com/asia/2024/03/22/china-investigating-role-big-4-accountant-pwc-78-billion-evergrande-fraud-case/ |url-status=live }}

In October 2021, the accounting regulator in Hong Kong announced an investigation into PwC's audit of Evergrande. PwC had signed off the 2020 accounts of Evergrande without reference to its uncertainties as a going concern. After the announcement of the fraud investigation, PwC resigned as auditor of Evergrande's accounts.{{Cite news |date=January 17, 2023 |title=China Evergrande's auditor PwC quits over 2021 audit-related matters |website=Reuters |url=https://www.reuters.com/world/china/china-evergrandes-auditor-quits-disagreement-around-2021-audit-related-matters-2023-01-16/ |access-date=2024-03-20 |archive-date=2 July 2024 |archive-url=https://web.archive.org/web/20240702190226/https://www.reuters.com/world/china/china-evergrandes-auditor-quits-disagreement-around-2021-audit-related-matters-2023-01-16/ |url-status=live }} One year later, in February 2024, Evergrade liquidators prepared for a potential lawsuit against PwC.{{Cite news |date= February 17, 2024 |title=China Evergrande's liquidators prepare to sue PwC over audits, FT reports |url=https://www.reuters.com/legal/china-evergrandes-liquidators-prepare-sue-pwc-over-audits-ft-reports-2024-02-17/ |work=Reuters}}

In September 2024, PwC ZhongTian, PwC's auditing business in China, was suspended for six months. China's securities regulator also confiscated the revenue PwC earned from auditing Evergrande and imposed a fine of $62 million.{{cite news | url = https://www.bbc.co.uk/news/articles/cje2ejnwwx9o | title = UK accounting giant PwC faces six-month China ban | last = Hooker | first = Lucy | date = 2024-09-13 | website = BBC News Online | access-date = 2024-09-14 | archive-date = 14 September 2024 | archive-url = https://web.archive.org/web/20240914083832/https://www.bbc.co.uk/news/articles/cje2ejnwwx9o | url-status = live }}

The Zondo Commission report on state capture in South Africa uncovered several instances of alleged corruption, fraud and mismanagement at South African Airways (SAA). The report found that PwC effectively enabled capture of SAA by failing to adequately audit its financial and accounting processes between 2012 and 2016.{{Cite web|last1=Gumede|first1=Michelle|last2=Mhlanga|first2=Denise|date=6 January 2022|title=Raymond Zondo censures PwC for turning blind eye to state capture|url=https://www.businesslive.co.za/bd/companies/financial-services/2022-01-06-raymond-zondo-censures-pwc-for-turning-blind-eye-to-state-capture/|access-date=6 January 2022|website=BusinessLIVE|archive-date=6 January 2022|archive-url=https://web.archive.org/web/20220106095624/https://www.businesslive.co.za/bd/companies/financial-services/2022-01-06-raymond-zondo-censures-pwc-for-turning-blind-eye-to-state-capture/|url-status=live}}

In June 2022, the UK's Financial Reporting Council fined PwC and a former partner, Jonathan Hook, over audit failures relating to construction firms Galliford Try and Kier Group. PwC was fined just over £3m for failing to adequately challenge revenue and costs recognised by Galliford Try's management on large, complex long-term construction contracts during 2018 and 2019 audits, and fined £1.96m for similar failures during the 2017 audit of Kier. Both fines were reduced (from £5m and £3.35m respectively) to reflect PwC's cooperation with the investigation.{{cite news |last1=Morby |first1=Aaron |title=PwC handed £5m fine for Kier and Galliford Try audits |url=https://www.constructionenquirer.com/2022/06/07/pwc-fined-over-kier-and-galliford-try-audits/ |access-date=7 June 2022 |work=Construction Enquirer |date=7 June 2022 |archive-date=7 June 2022 |archive-url=https://web.archive.org/web/20220607071146/https://www.constructionenquirer.com/2022/06/07/pwc-fined-over-kier-and-galliford-try-audits/ |url-status=live }}

In January 2023, the firm was involved in a controversy when it approved Americanas' (AMER3) balance sheets with accounting inconsistencies of around US$4 billion. This caused volatility to company's price on the Brazilian stock exchange and losses to the company's shareholders. After verifying the impacts caused, the CVM (Brazilian body that regulates the stock exchanges) opened investigations against the company's auditors to determine responsibilities.{{cite web|access-date=2023-01-13|language=pt-br|title=Auditora da Americanas, PwC não identificou problemas na última auditoria completa, de 2021|url=https://valor.globo.com/empresas/noticia/2023/01/11/auditora-da-americanas-pwc-nao-identificou-problemas-na-ultima-auditoria-completa-de-2021.ghtml|website=Valor Econômico|date=11 January 2023|archive-date=8 October 2024|archive-url=https://web.archive.org/web/20241008152713/https://valor.globo.com/empresas/noticia/2023/01/11/auditora-da-americanas-pwc-nao-identificou-problemas-na-ultima-auditoria-completa-de-2021.ghtml|url-status=live}}{{cite web|access-date=2023-01-13|date=2023-01-11|first1=Victor|first2=Victor|language=pt-br|last1=Aguiar|last2=Aguiar|title=Caos na Americanas (AMER3): mercado fica perplexo com notícias de rombo contábil de R$ 20 bi e saída precoce de Rial|url=https://www.seudinheiro.com/2023/empresas/caos-americanas-amer3-mercado-perplexo-rial-vvka/|website=Seu Dinheiro}}{{cite web|access-date=2023-01-13|date=2023-01-13|first=Rikardy|last=Tooge|title=Auditores da PwC serão investigados no caso da Americanas (AMER3) por Conselho|url=https://www.infomoney.com.br/negocios/auditores-da-pwc-serao-investigados-no-caso-da-americanas-amer3-por-conselho/|website=InfoMoney|archive-date=8 October 2024|archive-url=https://web.archive.org/web/20241008152711/https://www.infomoney.com.br/negocios/auditores-da-pwc-serao-investigados-no-caso-da-americanas-amer3-por-conselho/|url-status=live}}

{{Main articles|PwC tax scandal}}

In 2023, it was revealed that a PwC partner, who was a member of consultation groups set up by the Australian Treasury to improve tax laws, had been leaking confidential government tax plans to PwC. The data leaked by the PwC partner included new taxation rules to close loopholes which allowed multinational companies to avoid paying tax.{{Cite web |last=Thompson |first=Colin Kruger, Angus |date=2023-01-23 |title=Treasury threatens to stop briefing tax multinationals after leak |url=https://www.theage.com.au/business/companies/former-pwc-partner-banned-after-leaking-confidential-government-tax-plans-20230123-p5ceq9.html |access-date=2023-01-23 |website=The Age |language=en |archive-date=23 January 2023 |archive-url=https://web.archive.org/web/20230123085033/https://www.theage.com.au/business/companies/former-pwc-partner-banned-after-leaking-confidential-government-tax-plans-20230123-p5ceq9.html |url-status=live }}

After PwC completed an internal investigation in July 2023, eight partners, including former chief executive Tom Seymour, were removed from the partnership.{{cite web |title=PwC Australia exits eight partners for professional or governance breaches |url=https://www.pwc.com.au/media/2023/pwc-australia-exits-eight-partners-for-professional-or-governance-breaches.html |publisher=PwC Australia |access-date=3 July 2023 |archive-date=3 July 2023 |archive-url=https://web.archive.org/web/20230703050728/https://www.pwc.com.au/media/2023/pwc-australia-exits-eight-partners-for-professional-or-governance-breaches.html |url-status=live }}{{cite news |title=PwC Australia removes multiple partners, including former chief executive Tom Seymour, over tax leak scandal |url=https://www.abc.net.au/news/2023-07-03/pwc-australia-tom-seymour-sacked-tax-scandal/102554332 |newspaper=ABC News |date=3 July 2023 |access-date=3 July 2023 |archive-date=8 October 2024 |archive-url=https://web.archive.org/web/20241008152714/https://www.abc.net.au/news/2023-07-03/pwc-australia-tom-seymour-sacked-tax-scandal/102554332 |url-status=live }} In July 2023 PwC sold its Australian government consulting business to Allegro Funds for $1 with the business rebranded Scyne Advisory.[https://www.abc.net.au/news/2023-06-25/pwc-appoints-new-ceo-will-sell-off-government-business/102521482 PwC appoints new CEO Kevin Burrowes and announces it will sell off government business] {{Webarchive|url=https://web.archive.org/web/20241008152727/https://www.abc.net.au/news/2023-06-25/pwc-appoints-new-ceo-will-sell-off-government-business/102521482 |date=8 October 2024 }} ABC News 23 June 2023[https://www.news.com.au/finance/business/other-industries/pwc-completes-1-fire-sale-to-allegro-funds-renames-to-scyne-advisory/news-story/f967cb094dd1aa8f1878a86cc4604bf3 PwC completes $1 fire sale to Allegro Funds, renames to Scyne Advisory] {{Webarchive|url=https://web.archive.org/web/20230703235800/https://www.news.com.au/finance/business/other-industries/pwc-completes-1-fire-sale-to-allegro-funds-renames-to-scyne-advisory/news-story/f967cb094dd1aa8f1878a86cc4604bf3 |date=3 July 2023 }} News.com.au 4 July 2023

PwC's Cyprus unit helped dozens of Russian oligarchs to shuffle their wealth and evade sanctions after Russia's invasion of Ukraine.{{Cite web |date=2023-11-14 |title=Cyprus ignores Russian atrocities, Western sanctions to shield vast wealth of Putin allies |url=https://www.icij.org/investigations/cyprus-confidential/cyprus-russia-eu-secrecy-tax-haven/ |website=ICIJ |language=en-US |access-date=14 November 2023 |archive-date=14 December 2023 |archive-url=https://web.archive.org/web/20231214002320/https://www.icij.org/investigations/cyprus-confidential/cyprus-russia-eu-secrecy-tax-haven/ |url-status=live }}{{Cite web |date=2023-11-14 |title=As sanctions loomed, accounting giant PwC scrambled to keep powerful Russians a step ahead - ICIJ |url=https://www.icij.org/investigations/cyprus-confidential/pwc-cyprus-russia-oligarchs-ukraine-sanctions/ |website=ICIJ |language=en-US |access-date=14 November 2023 |archive-date=5 December 2023 |archive-url=https://web.archive.org/web/20231205000917/https://www.icij.org/investigations/cyprus-confidential/pwc-cyprus-russia-oligarchs-ukraine-sanctions/ |url-status=live }} PwC helped Alexey Mordashov transfer a $1.4 billion investment out of his name in order to elude EU sanctions. PwC also helped two oligarchs who were instrumental to the waging of Russia's war in Ukraine to hide $100 million.

After the start of the full-scale Russian invasion of Ukraine, on March 7, 2022, PwC stated that "under the circumstances, PwC should not have a member firm in Russia and consequently PwC Russia will leave the network."{{cite web |title=Accountancy giant PwC to exit Russia as multinational exodus grows |url=https://news.sky.com/story/accountancy-giant-pwc-to-exit-russia-as-multinational-exodus-grows-12559637 |website=Sky News |access-date=3 June 2024 |archive-date=3 June 2024 |archive-url=https://web.archive.org/web/20240603171328/https://news.sky.com/story/accountancy-giant-pwc-to-exit-russia-as-multinational-exodus-grows-12559637 |url-status=live }} On April 29, PwC Russia announced the withdrawal of the brand from the PwC network, and on June 30, a legal agreement was signed on the withdrawal of the firm in Russia from the network.{{Cite web|url=https://www.pwc.com/th/en/press-room/press-release/2022/statement-on-pwc-russia.html|title=Statement on PwC Russia|website=PwC|access-date=23 April 2023|archive-date=23 April 2023|archive-url=https://web.archive.org/web/20230423204408/https://www.pwc.com/th/en/press-room/press-release/2022/statement-on-pwc-russia.html|url-status=live}}

A week later, on July 5, 2022, PwC Ukraine announced the final exit of the company from Russia: "PwC no longer has a firm in Russia: on 4 July 2022 all aspects of the departure of the former PwC firm in Russia have been completed".{{Cite web|url=https://www.pwc.com/ua/en/press-room/2022/pwc-no-longer-has-firm-in-russia.html|title=PwC no longer has a firm in Russia: on 4 July 2022 all aspects of the departure of the former PwC firm in Russia have been completed|website=PwC|access-date=23 April 2023|archive-date=23 April 2023|archive-url=https://web.archive.org/web/20230423204410/https://www.pwc.com/ua/en/press-room/2022/pwc-no-longer-has-firm-in-russia.html|url-status=live}}

However, in 2023, it emerged that PwC helped Russian oligarchs to avoid sanctions.{{Cite web|url=https://www.icij.org/investigations/cyprus-confidential/pwc-cyprus-russia-oligarchs-ukraine-sanctions/|title=As sanctions loomed, accounting giant PwC scrambled to keep powerful Russians a step ahead|website=ICIJ|date=14 November 2023|access-date=14 November 2023|archive-date=5 December 2023|archive-url=https://web.archive.org/web/20231205000917/https://www.icij.org/investigations/cyprus-confidential/pwc-cyprus-russia-oligarchs-ukraine-sanctions/|url-status=live}} PwC also stopped working in Belarus, where its staff consisted of 25 people.{{Cite news|url=https://www.ft.com/content/be3d59a3-d9b2-4303-946d-d61d32c2ff08|title=PwC and KPMG exit Russia and Belarus in wake of Ukraine invasion|newspaper=Financial Times |date=6 March 2022|access-date=23 April 2023|archive-date=10 December 2022|archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/be3d59a3-d9b2-4303-946d-d61d32c2ff08|url-status=live |last1=O'Dwyer |first1=Michael }}

PwC helped billionaire Hushang Ansary allegedly defraud a pension fund in Curacao by setting up shell companies that drained the fund.{{Cite web |date=2023-11-20 |title=A US billionaire took over a tropical island pension fund — then hundreds of millions of dollars allegedly went missing - ICIJ |url=https://www.icij.org/investigations/cyprus-confidential/curacao-pension-fund-offshore-ansary/ |language=en-US |access-date=25 November 2023 |archive-date=16 May 2024 |archive-url=https://web.archive.org/web/20240516135514/https://www.icij.org/investigations/cyprus-confidential/curacao-pension-fund-offshore-ansary/ |url-status=live }}

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{{Reflist}}

• Allen, David Grayson; McDermott, Kathleen, (1992) Accounting for Success: A History of Price Waterhouse in America 1890–1990, 1992, Harvard Business School Press, {{ISBN|0-875-843-28X}}
• Jones, Edgar, (1995) True and Fair: A History of Price Waterhouse, Hamish Hamilton, {{ISBN|978-0241001721}}
• A History of Cooper Brothers 1854-1954, B.T. Batsford, London, 1954
• An Early History of Coopers & Lybrand, 1984, Garland Publishing Inc., {{ISBN|978-0-8240-6319-1}}

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