You're reading: Financial Times: Ukraine pulls PwC bank audit licence over $5.5 billion hole at top lender

PwC suffered the latest blow to its reputation late on July 20 as Ukraine’s central bank pulled its bank auditing rights in the country for failing to identify alleged improprieties that led to a $5.5 bn balance-sheet hole at PrivatBank, the country’s largest lender.

The big four accounting group, which denies fault, had audited PrivatBank from the mid-1990s until it was nationalised late last year after government claims of massive related-party lending.

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