US

PricewaterhouseCoopers LLP

Big Four accounting network sanctioned for audit failures in Satyam, Colonial Bank, Evergrande, and independence violations.

AUDIT FIRM RECORD
  • Audit Firm: PricewaterhouseCoopers LLP
  • Jurisdiction: US
  • Indexed Audit Cases: 17 major corporate fraud cases.
  • Regulatory History: Big Four accounting network sanctioned for audit failures in Satyam, Colonial Bank, Evergrande, and independence violations.

CLIENT CASES INVOLVING PRICEWATERHOUSECOOPERS LLP

17 CASES IN LIBRARY
Case Title Jurisdiction Status Primary Scheme Overstatement Action Date
Satyam Computer Services: $1B Fabricated Cash and Ghost Employees IN Adjudicated fictitious revenue $1.0B January 9, 2009
Americanas S.A.: R$20B Off-Balance-Sheet Supplier Risk Financing BR Alleged undisclosed related party transactions $4.1B September 20, 2025
Tyco International: $600M Executive Looting and Reserve Accounting US Adjudicated undisclosed related party transactions $600.0M September 20, 2004
Bristol-Myers Squibb: $2B Channel Stuffing with Wholesaler Incentives US Settled, neither admitted nor denied channel stuffing $2.0B September 20, 2006
Colonial Bank: $2.9B Fake Mortgage Collateral Fraud with Taylor Bean US Adjudicated loan loss provisioning $2.9B September 20, 2013
Banco Popular: Concealment of Real Estate Loan-Loss Provisions ES Adjudicated loan loss provisioning $3.7B September 20, 2020
Volkswagen: Material Omission of Emissions Defeat Devices in Bond Offerings DE Settled material omission $15.0B September 20, 2017
Theranos: Fabricated Revenue Projections and Fake Blood Analyzer Demos US Adjudicated misleading non gaap and kpis $700.0M September 20, 2020
Homestore.com: Triangular Round-Trip Online Advertising Barter Deals US Adjudicated barter and nonmonetary $46.0M September 20, 2004
W.R. Grace & Co.: Landmark SEC Cookie-Jar Reserve Action US Settled, neither admitted nor denied cookie jar reserves $20.0M September 20, 2001
Tesco plc: £250M Premature Commercial Supplier Income Pull-Forward GB Adjudicated premature recognition $330.0M September 20, 2019
BHS: Audit Failure and Sale for £1 Prior to Catastrophic Pension Collapse GB Adjudicated audit failure $750.0M September 20, 2021
Boeing: $200M SEC Settlement for Misleading 737 MAX Safety Disclosures US Settled, neither admitted nor denied material omission $2.5B September 20, 2023
PricewaterhouseCoopers: $7.9M SEC Settlement for Nationwide Independence Violations US Settled, neither admitted nor denied independence violation $0 September 20, 2021
Greensill Capital: Prospective Receivables and Multi-Billion Credit Concentration GB Adjudicated fictitious revenue $5.0B September 20, 2023
Petrobras: $2.5B Capitalized Contractor Bribes and Cartel Overpayments BR Settled capitalising operating expenses $2.5B September 20, 2017
China Evergrande: 564B Yuan Revenue Inflation on Incomplete Apartments CN Adjudicated premature recognition $78.0B September 20, 2023