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Top-tier auditor PwC reaches settlement with U.S. FDIC over bank auditing failure

Contributed by NAMPA / Xinhua.

WASHINGTON, March 15 (Xinhua) -- The U.S. Federal Deposit Insurance Corporation (FDIC) said on Friday that it has reached a 335-million-U.S.-dollar settlement with PricewaterhouseCoopers (PwC), one of the "Big Four" auditors in the world.
In August 2009, an Alabama-based banking giant in the United States named Colonial Bank was closed, which represented one of the largest bank collapses in U.S. history. As the receiver for the collapsed Colonial Bank, the FDIC said that the failed bank cost the Depos ...

 

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