The Greece-based branch of Big Four audit firm PwC agreed to pay $3 million as part of a settlement with the Public Company Accounting Oversight Board (PCAOB) addressing alleged failures in due professional care and appropriate skepticism regarding an audit of a marine fuel logistics company.
The PCAOB disciplined the firm for its 2016 work at Aegean Marine Petroleum Network, the agency announced in a press release Tuesday. Nicos George Komodromos, the engagement partner for PwC Greece on the audit, was fined $80,000 and barred from being an associated person of a registered public accounting firm for two years.
