Professional Services Monitor: Today


June 13, 2006

Forbes: PwC Establishes New Japan Partner Firm

Filed under: Firms,PricewaterhouseCoopers — psmtoday @ 7:40 am

Forbes is reporting this morning that PricewaterhouseCoopers has created a new firm in Japan, PricewaterhouseCoopers Arata. PwC Aarata will begin operations on July 1, which is also the date when existing PwC affiliate firm ChuoAoyama begins serving a two-month ban on auditing public Japanese companies. The penalty is a result of ChuoAoyama certifying the financial statements of Japanese cosmetic company Kanebo, which the company later admitted were falsified for several years.
At the same time, PwC has said it will keep its relationship with ChuoAoyama.

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  1. [...] Misuzu was formerly known as ChuoAoyama and was penalized in 2006 with a two-month suspension in connection with another scandal at Kanebo. In July 2006, PwC opened a new Japanese firm, PwC Aarata, to give its ChuoAoyama clients a new firm. Today’s announcement does not affect PwC Aarata. [...]

    Pingback by Professional Services Monitor: Today » PwC’s Japanese Affiliate, Misuzu, To Be Shutdown — February 21, 2007 @ 10:12 am

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