The Israeli affiliate of Big Four audit firm PwC agreed to pay $2.75 million to settle allegations it failed to prevent widespread cheating on training examinations despite internal warnings to staff about an ongoing crackdown.
PwC Israel failed to implement required quality control standards related to integrity and personnel management by allowing its staff to “engage in improper answer sharing,” the Public Company Accounting Oversight Board (PCAOB) said in a press release Tuesday.
