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☆ Gen Z and Millennial employees are more likely to feel left out in online meetings than older workers, new survey finds
▼ + stars: | 2023-07-20 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Gen Z and millennial workers are more likely to struggle to feel included in online meetings, a survey showed. Older, established workers are two times more likely to never have felt left out in online meetings. The younger, more tech-savvy generation, Gen Z and Millennials were two to three times more likely to feel left out in online meetings, whilst Gen X and Boomers were roughly two times more likely to say they've never been left out. Around 17% of Gen Z and 13% of millennials often felt left out in meetings, but only 7% of Gen X and 5% of Boomers felt the same. However, only 15% of Gen Z and 22% of millennials never felt left out of meetings, while 32% of Gen X and 38% of Boomers felt they had never been left out in meetings.

Persons: Z, Jabra, Gen X, they've, X, millennials Organizations: Service, Boomers, Big, PWC, KPMG, Deloitte Locations: Wall, Silicon, Danish, France, Germany, Poland, Japan

July 18 (Reuters) - Consultancy giant McKinsey said it had struck a partnership with artificial intelligence startup Cohere in an effort to provide AI solutions to its enterprise clients. We found Cohere to be one of the great solutions out there," Ben Ellencweig, senior partner at McKinsey, told Reuters in an interview. McKinsey said it was working with Cohere to build customized solutions to help improve customer engagement and workflow automation for clients. Cohere competes with OpenAI with a focus on generative AI solutions for enterprises. It also announced a partnership with Oracle, which will embed Cohere's generative AI technology in its products.

Persons: Ben Ellencweig, Cohere, Martin Kon, PwC, Bain, Krystal Hu, Himani Sarkar Organizations: Consultancy, McKinsey, Microsoft, Reuters, Google, Nvidia, Oracle, Salesforce Ventures, Cohere, Accenture, Company, Deloitte, Thomson Locations: New York

☆ Deloitte Australia CEO admits he isn't worth his $2.3 million pay package in a public hearing over salaries and misconduct at consultancy firms
▼ + stars: | 2023-07-17 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Deloitte executives were questioned about the company's integrity at a public hearing on Monday. During the hearing, Deloitte Australia's CEO Adam Powick admitted to being overpaid. Powick reportedly earns $3.5 million AUD ($2.3 million). The CEO of Deloitte Australia admitted to being "incredibly privileged" for his hefty $3.5 million AUD ($2.3 million) pay packet at a public hearing on Monday, according to various local news reports. The CEO, who reportedly earns $3.5 million AUD ($2.3 million), was then asked by Pocock: "Are you really worth seven times the salary of the Australian prime minister?"

Persons: Adam Powick, Powick, Adam Powick –, –, Tom Imbesi, Barbara Pocock, Pocock, didn't, Anthony Albanese, Sneza Pelusi Organizations: Deloitte, Deloitte Australia, PWC, Reuters, ABC, Australia's, ABC News, Australian Securities and Investments Commission Locations: Australia, PWC Australia

☆ UBS to retain EY as auditor after Credit Suisse takeover, Financial Times reports
▼ + stars: | 2023-07-16 | by ( ) www.reuters.com time to read: +1 min

July 16 (Reuters) - UBS Group (UBSG.S) has decided to retain EY as its external auditor, enlarging its role to include Credit Suisse's accounts from 2024, the Financial Times reported on Sunday, citing people with knowledge of the decision. UBS agreed to buy Credit Suisse for 3 billion Swiss francs ($3.48 billion) in March after panicked customers withdrew cash from their accounts at the stricken lender. PwC in Credit Suisse's 2022 annual report had included an "adverse opinion" on the effectiveness of the bank's internal controls over its reporting but said its statements "present fairly, in all material respects" the financial position of the bank from 2020 through 2022. UBS and EY did not immediately respond to requests for comment on the FT report while PwC said it would not be making any comment on the story. ($1 = 0.8617 Swiss francs)Reporting by Juby Babu in Bengaluru; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: EY, PwC, Juby Babu, Jamie Freed Organizations: UBS, Financial Times, Big, PricewaterhouseCoopers, Credit Suisse, Thomson Locations: Bengaluru

☆ UBS to retain EY as auditor after Credit Suisse takeover- FT
▼ + stars: | 2023-07-16 | by ( ) www.reuters.com time to read: +1 min

July 16 (Reuters) - UBS Group (UBSG.S) has decided to retain EY as its external auditor, enlarging its role to include Credit Suisse's accounts from 2024, the Financial Times reported on Sunday, citing people with knowledge of the decision. The size of the contract will require the Big Four accounting firm to call in staff from other countries to work on the audit, two people told the FT.PricewaterhouseCoopers (PwC), which has been Credit Suisse's auditor since 2020, will audit the acquired bank's accounts for 2023, according to the newspaper. UBS agreed to buy Credit Suisse for 3 billion Swiss francs ($3.48 billion) in March after panicked customers withdrew cash from their accounts at the stricken lender. UBS, EY and PwC did not immediately respond to requests for comment on the FT report. ($1 = 0.8617 Swiss francs)Reporting by Juby Babu in Bengaluru; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: PwC, Juby Babu, Jamie Freed Organizations: UBS, Financial Times, Big, PricewaterhouseCoopers, Credit Suisse, EY, Thomson Locations: Bengaluru

Reuters GraphicsIndia is among the world's top exporters of services, doubling its share in global services trade to over 4% from 2% in 2005, according to WTO estimates. Sunil Talati, president of government-aided Services Export Promotion Council, said total services exports could overtake goods exports in the next five years to $750 billion. A report by Knight Frank consultancy last week said demand for office space has risen sharply in smaller cities, driven by expanding operations of global accounting and multinationals, pushing up rents by up to 10%. Domestic accounting firms are also moving to smaller towns and raising wages. "With the Big Four and other global firms coming to our cities, we are going even deeper to open offices in smaller cities."

Persons: Ernst & Young, Diksha Mehta, Debasish Mishra, PwC, Padmaja Alaganandan, Narendra Modi, Sunil Talati, Swagatika Parmanik, Knight Frank, Kshitij Patel, Shah, Manoj Kumar, Kripa Jayaram, Sam Holmes Organizations: Business, Diksha, Reuters Graphics India, Deloitte, KPMG, Export Promotion Council, Reuters, PwC, IBM, Manubhai, Shah LLP, Thomson Locations: BHUBANESWAR, India, Mumbai, Delhi, Bengaluru, Jaipur, Vadodara, Kochi, Chandigarh, Patiala, Australian, Europe, New Delhi, Asia, Odisha, Bhubaneswar, Gujarat, Ahmedabad

☆ UK economy shows strains and gains, complicating Bank of England's job
▼ + stars: | 2023-07-12 | by ( William Schomberg | ) www.reuters.com time to read: +5 min

But the BoE is also aware that the economic impact of its 18-month campaign of rate hikes has yet to be felt fully. Below is a summary of key measures of the economy that the BoE will be watching before its next announcement on interest rates on Aug. 3. INFLATION THREATBritish consumer price inflation held at 8.7% in annual terms in May, down from a peak of 11.1% last October but the highest among the Group of Seven advanced economies. Reuters GraphicsINSOLVENCIESThere are signs that companies, especially smaller ones, are struggling as borrowing costs rise and the economy barely grows. Reuters GraphicsGraphics by Sumanta Sen, Kripa Jayaram and Vincent Flasseur; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: BoE, GfK, Sumanta Sen, Kripa Jayaram, Vincent Flasseur, Paul Simao Organizations: Bank of England's, Reuters Graphics Reuters, Nationwide, Halifax, Reuters, insolvencies, Wales, Reuters Graphics LABOUR, Thomson Locations: BoE's, Britain, England, Germany

LONDON, July 11 (Reuters) - Global hedge funds not specialising in crypto assets have grown skittish from recent industry turmoil and this has lead to an exit from the sector, a survey showed on Tuesday. The proportion of traditional hedge funds investing in crypto-assets has dropped to 29% this year from 37% in 2022, the report by PWC and the Alternative Investment Management Association (AIMA) said. Traditional hedge funds that avoided trading in crypto said deterrents included reputational risk, a lack of clear guidance from regulators and tax authorities and unreliable data. Hedge funds that are invested in crypto mostly use bitcoin or Ethereum. Almost half of hedge funds that were already trading crypto said they would put more money in, but that crypto only accounted for 2% of assets under management.

Persons: PWC, bitcoin, Jack Inglis, Nell Mackenzie, Elizabeth Howcroft, Dhara Ranasinghe, Alexander Smith Organizations: Global, Alternative Investment Management Association, Investors, Reuters, Thomson

WASHINGTON, July 11 (Reuters) - A U.S. judge ruled on Tuesday that Microsoft may go forward with its planned acquisition of videogame maker Activision Blizzard, turning aside antitrust enforcers' request for a preliminary injunction to temporarily stop the $69 billion deal. The FTC had originally asked the judge to stop the proposed deal, arguing it would give Microsoft Corp (MSFT.O), maker of the Xbox gaming console, exclusive access to Activision (ATVI.O) games including the best-selling "Call of Duty." The deal would be the largest for Microsoft and the biggest in the history of the videogame business. The FTC's complaint had cited concerns about loss of competition in console gaming, as well as subscriptions and cloud gaming. And while much of the testimony in the recent trial focused on "Call of Duty," Activision produces other bestsellers like "World of Warcraft," "Diablo" and the mobile game "Candy Crush Saga."

Persons: Jacqueline Scott Corley, Douglas Farrar, we'll, Brad Smith, Bobby Kotick, Satya Nadella, Diane Bartz, Caitlin Webber Organizations: Microsoft, Activision, Britain's, Markets Authority, Federal Trade Commission, FTC, Microsoft Corp, Sony PlayStation, Nintendo, Sony Group, Activision Blizzard, PlayStation, Thomson Locations: U.S, San Francisco

Activision shares surged 10% on the day, as the U.S. and Britain have been the two countries opposed to what would be Microsoft's biggest deal ever and the largest transaction in the videogame industry's history. Microsoft shares rose 64 cents to $332.47. Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. "It does seem like the Microsoft and the CMA could work out a deal within the next couple of weeks," said D.A. The FTC's complaint had cited concerns about loss of competition in console gaming, as well as subscriptions and cloud gaming.

Persons: Jacqueline Scott Corley, ”, Joost Van Dreunen, University's, Corley, Douglas Farrar, we'll, Dado Ruvic, Biden, Brad Smith, Franco Granda, Satya Nadella, Diane Bartz, David Shepardson, Jaspreet Singh, Aditya Soni, Chris Sanders, Caitlin Webber, Matthew Lewis David Gregorio, Muralikumar Organizations: Activision, Microsoft, Biden, U.S, Markets Authority, University's Stern School of Business, U.S . Federal Trade Commission, Nintendo, Sony Group, FTC, Sony PlayStation, REUTERS, FOCUS Gaming, CMA, Davidson &, PlayStation, Thomson Locations: WASHINGTON, U.S, British, Britain, San Francisco, New, Washington, Bengaluru

☆ Self-made millionaire: 'A.I. will be the biggest wealth creator in history'—2 ways to use it to make money right now
▼ + stars: | 2023-07-10 | by ( Ashton Jackson | ) www.cnbc.com time to read: +4 min

Artificial intelligence tools aren't just a convenient way to complete homework assignments or edit your selfies and videos. An AI tool called Jasper, for example, is already helping Kristen Walters create digital products like workbooks, e-books and audiobooks. "Small businesses can use AI tools to target their marketing and advertising efforts more effectively ... Don't upload any confidential information to an AI tool, experts say: It'll store, analyze and learn from everything you input. "The wonderful thing is, today, all we have to do is search 'how to improve my small business with AI tools,'" she says.

Persons: Matt Higgins, Higgins, It's, —, Susan Gonzales, Kristen Walters, Walters, Jasper, Gonzales, Jacqueline DeStefano, DeStefano, Tangorra Organizations: RSE Ventures, CNBC, Management, Entrepreneurship, Omni Business Intelligence Solutions Locations: PwC, Jasper

Uber and Facebook on Friday said they had received advice from PwC Australia about the law. "We had no knowledge their advice may have been based on improperly obtained information," an Uber spokesperson said. Uber dropped PwC Australia as a tax adviser in 2016 after "engagements" with the Australian Tax Office, the spokesperson added. Uber and Facebook's links to PwC on the leaked tax plans were first reported by the Australian Financial Review on Friday. A PwC Australia spokesperson said the matter "was a PwC issue" and its "clients were not involved in any wrongdoing and no confidential information was used to enable clients to pay less tax."

Persons: Uber, PwC, PwC's, Lewis Jackson, Sonali Paul Organizations: SYDNEY, PwC, Facebook, Reuters, Google, Australian Tax Office, Treasury, Australian, Tax, Board, Public Company, Thomson Locations: PwC Australia, Australia

SYDNEY, July 6 (Reuters) - Two lawmakers on Thursday called on PwC Australia to name all the companies it sought to advise on the basis of leaked government tax plans, after a report linked Google (GOOGL.O) to the national scandal first exposed in January. A cache of 144-pages of PwC emails dating from 2014 to 2017 publicly released by the Tax Practioners Board in May detail how a former tax partner shared with colleagues confidential government tax plans, which they then used to drum up work with companies overseas. One of the released emails dated Jan. 6, 2016 mentioned a "north American project" that had 14 unnamed companies as clients. PwC Australia did not immediately respond to a request for comment. Reporting by Lewis Jackson; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Deborah O'Neill, O'Neill, Barbara Pocock, Pocock, PwC, Tom Seymour, Lewis Jackson, Sonali Paul Organizations: SYDNEY, Reuters, Google, Tax, Board, Labor, Greens, Senate, PwC Australia's, Thomson Locations: Australia

At the time, a number of organisations had called for the government to delay the planned January 2016 start date. The former partner did not tell Google the information was confidential, the source said. Reuters could not establish if Google was a client of PwC Australia at the time, and if it used the information in any way. What sources told Reuters matches information in the letter, which was publicly released with the name of the company that received the confidential information redacted. Tax officials told parliament in May they foiled several attempts by unnamed multinational firms to subvert the multinational anti-avoidance law in early 2016, months after confidential information had leaked.

Persons: PwC, Peter Collins, Collins, Tom Seymour, Lewis Jackson, Emelia Sithole, Sonali Paul Organizations: Google, Reuters, PwC Australia, PwC, Tax, Board, Thomson Locations: Australia, SYDNEY, PwC Australia

SYDNEY, July 4 (Reuters) - Australia's fourth largest pension fund suspended new work with PwC Australia on Tuesday, the latest in a string of funds to pause work with the accounting firm over a scandal which first surfaced in January over the misuse of government tax plans. The decision by UniSuper, which manages A$115 billion ($77 billion), means five of Australia's largest pension funds, managing a total of some A$865 billion, have paused work with PwC, which says it is a "leading adviser" to the sector. UniSuper said it was concerned by recent events at PwC and the fund had suspended new contracts for the "immediate future". PwC, which was UniSuper's internal auditor according to the fund's 2022 annual report, declined to comment. ($1 = 1.4972 Australian dollars)Reporting by Lewis Jackson; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: UniSuper, Lewis Jackson, Alexander Smith Organizations: SYDNEY, PwC Australia, UniSuper, Reserve Bank of Australia, Thomson Locations: PwC

☆ Allegro says independent board to oversee PwC Australia's government business
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, July 4 (Reuters) - Australian investment firm Allegro Funds said on Tuesday it would set up an independent board to oversee PwC Australia's government practice business, which it bought last month, and committed A$100 million ($67 million) for transition costs. PwC Australia on June 25 entered an exclusivity agreement with Allegro to sell its government practice for A$1 as it battles to contain a fallout from a scandal over the leak of confidential government tax documents. Allegro said it had reached a binding term sheet on the sale, with the new business to be called Scyne Advisory and fully independent of PwC. PwC Australia said on Monday that it fired eight partners as part of an internal investigation into the leak. Former CEO Tom Seymour and the other seven partners named by PwC did not respond to requests for comment.

Persons: Allegro, Tom Seymour, PwC, Renju Jose, Matthew Lewis Organizations: SYDNEY, Allegro, Advisory, Federal, of, Scyne Advisory, PwC, Thomson Locations: Australia, of Australia, PwC Australia, Sydney

SYDNEY, July 3 (Reuters) - PwC Australia has fired eight partners including its former chief executive as part of an internal investigation into the leak of confidential government tax plans by a former partner, the firm said on Monday. The investigation found multiple examples where the "misuse of confidential information" breached professional standards and also identified "a failure of leadership and governance" to address the breaches, PwC said in a statement. Seymour and the other seven partners named by PwC did not immediately respond to requests for comment. Three of the partners were singled out for actions that "failed to meet their professional responsibilities". These behaviours are not, and never have been, acceptable under PwC’s standards," said the statement from PwC, one of the world's "big four" accounting firms.

Persons: PwC, Kristin Stubbins, Tom Seymour, Seymour, Lewis Jackson, Sonali Paul Organizations: SYDNEY, PwC, Thomson Locations: Australia, Stubbins

☆ Hybrid working policies are making interns lonelier in the office
▼ + stars: | 2023-07-03 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

Hybrid working policies mean interns turn up to empty offices and feel more isolated. However, young professionals often want to be in the office to advance their careers and socialize. "[But] there were some days when I was the only member of my team in the office ... Because of this, some companies are implementing new guidance for younger employees to help them integrate into the workforce. This is severely degraded when those top performers (who are most capable of thriving WFH) are working from home.

Persons: —, Martha Storey, Mark Drury, Louise Fitzgerald, Lombard, Jake Wood Organizations: Service, Financial Times, Linklaters, HSBC, KPMG, BNP, Deloitte, New, Junior Locations: London

☆ This Flexport-alum-turned-investor says supply chain startups shouldn't stop thinking big just because VC is in the midst of a 'reset'
▼ + stars: | 2023-07-02 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

Glancy said startups shouldn't see the current venture slowdown as a sign to think smaller. The last few years drove billions of dollars in investment in logistics startups hoping to fix flaws in supply chains that became obvious to average consumers. As supply chains have righted themselves and the broader venture market has cooled to what some see as dangerous temperatures, the environment for logistics startups has changed dramatically. You know, there's thousands of freight forwarders. There's thousands of customs brokers.

Persons: Kaitlyn Glancy, Glancy, Flexport, There's, she's, I'm Organizations: Eclipse, Systems, Shopify, Logistics Locations: North America, Palo Alto , California, PwC, China, Flexport, Mexico, There's

CARE Hospitals Group, according to another investor source, is in talks to sell a 70% stake to U.S. investment giant Blackstone (BX.N) in a deal valued at $800 million. MORE ATTRACTIVE THAN EVERAs government hospitals became increasingly overburdened and incomes rose in India's vast middle class, demand for private healthcare rose over the years. "The India healthcare opportunity has always been attractive, but never more than now. In 2022, PE investors spent $3.2 billion buying stakes in hospitals in India. "Big private hospitals are more reliable," said 35-year-old G. Chavan said as he accompanied his wife to see a doctor.

Persons: Rana Mehta, PwC's, Atlantic, Indira, Blackstone, Gaurav Sharma, Investcorp, Nishant Sharma, Sharma, Chavan, Sriram, Aditya Kalra, Simon Cameron, Moore Organizations: PwC, General Atlantic, CARE Hospitals, Blackstone, CARE, Kedaara Capital, ASIA'S PACE, Temasek, Reuters Graphics, Apollo Hospitals, Thomson Locations: India, PUNE, Pune, Indira, Bahrain, Mumbai, Manipal, Asia

☆ Galym Imanbayev went from Stanford School of Medicine to venture capital. Here's why he says his medical training has been so crucial to becoming an investor at Lightspeed.
▼ + stars: | 2023-06-30 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +8 min

During his senior year of high school, Imanbayev discovered another interest, entirely by chance. After mistiming his MCAT, Imanbayev faced one gap year before he could start medical school. As he jumped into the grueling demands of medical school, Imanbayev said that for everything he studied, there were additional things he wanted to add on and learn. Helping Lightspeed push into healthtech investingSince 2020, Imanbayev has been a partner at Lightspeed focusing on the health sector. Imanbayev himself has spearheaded investments for Lightspeed in the healthcare-equity startup Soda Health and the virtual-care startup Wheel.

Persons: Galym Imanbayev, he'd, Mark Zuckerberg, Larry Ellison, Jack Dorsey, Imanbayev, Imanbayev's, Dean Lloyd Minor's Organizations: Stanford, VC, Lightspeed Venture Partners, Co, Oregon Health & Science University, Martis, Stanford School of Medicine, Stanford Graduate School of Business, Lightspeed, Ancora Biotech, Soda Health Locations: Kazakhstan, Soviet Union, Portland , Oregon

☆ US banks gird for dose of post-stress-test trauma
▼ + stars: | 2023-06-29 | by ( John Foley | ) www.reuters.com time to read: +8 min

NEW YORK, June 29 (Reuters Breakingviews) - For the biggest U.S. banks, the nerves this year come after the exam. Fed stress tests subject banks to a theoretical market shock and incorporate elements of operational risk, and then spit out a “stress capital buffer” requirement tailored to each firm. The risk for banks is that new rules get piled on top of existing regulations in a process known as gold-plating. U.S. banks are awaiting a proposal from their regulators to revamp capital rules, expected in July. Gruenberg said regulators were considering expanding the reach of a stricter set of capital rules to include banks with over $100 billion in assets.

Persons: Goldman Sachs, Michael Barr, Jamie Dimon, Banks, Morgan Stanley, Jay Powell, PwC, watchdogs, Michelle Bowman, Martin Gruenberg, It’s, Gruenberg, Peter Thal Larsen, Streisand Neto Organizations: YORK, Reuters, Federal Reserve, JPMorgan, Citigroup, Banking Supervision, Basel III, America, State Street, Bank of New York Mellon, Big, Bank, U.S ., Reuters Graphics Reuters, Signature Bank, First, Fed, Federal Deposit Insurance, FDIC, Credit Suisse, Committee, “, “ Basel IV, Federal, Thomson Locations: U.S, Basel, Goldman, Big U.S, Swiss, “ Basel

☆ PwC and KPMG fined over Eddie Stobart Logistics audit
▼ + stars: | 2023-06-29 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, June 29 (Reuters) - Britain's accounting watchdog said on Thursday it had fined PwC and KPMG, two of the world's top four auditors, for "serious" failings in their auditing of Eddie Stobart Logistics (ESL) company in 2017 and 2018. PwC was fined 1.9 million pounds ($2.4 million), reduced from 3.5 million pounds due to exceptional cooperation and admissions, the Financial Reporting Council (FRC) said in a statement. PwC admitted failings related to property transactions entered into by ESL, audit procedures, and property lease accruals, the watchdog said. The FRC also fined PwC audit partner Philip Storer 51,187 pounds. The FRC said it had fined KPMG 877,500 pounds, reduced from 1.35 million pounds due to admissions.

Persons: PwC, Eddie Stobart, Philip Storer, Cath Burnet, Burnet, Nicola Quayle, Huw Jones, John Stonestreet, Mark Potter Organizations: KPMG, Eddie Stobart Logistics, Financial, Council, ESL, FRC, Thomson

The total number of recent victims from the online extortion ring has reached 121 organizations, according to Brett Callow, whose cybersecurity company Emsisoft helps companies respond to digital shakedown attempts. In 2021, Ukrainian authorities announced the arrests of six people tied to cl0p, but it's not clear that they were core members of the group, which continued to hack victims. Plundering file transfer protocols has become increasingly popular as hackers shift from encrypting data to simply stealing files and threatening to release them unless a ransom is paid. Many of the organizations stress that the target of the hack is the file transfer service, not their systems. The FBI said it was "aware of and investigating the recent exploitation of a MOVEit vulnerability by malicious ransomware actors."

Persons: Brett Callow, encrypting, TrendMicro, didn't, Cl0p, Emsisoft, Charles Carmakal, Raphael Satter, Christopher Bing, James Pearson, Cynthia Osterman Organizations: University of California, Siemens Energy, Abbvie Inc, Schneider, Publicly, Sony, Shell PLC, Government, U.S . Energy Department, Alphabet Inc, FBI, Thomson Locations: Los Angeles, Russia, Washington, London

The Australian scandal is the latest in a number the "big four" professional services firm has faced around the globe. Auditor PwC said it was unable to comment on client issues due to confidentiality clauses. Its auditor PwC and affiliates agreed to pay $33 million in fines and compensation to settle U.S. litigation in 2011. India's market regulator barred PwC's local affiliate from auditing listed companies for two years in 2018, but that was overturned the following year. ($1 = 1.4984 Australian dollars)Reporting by Lewis Jackson; Editing by Praveen Menon and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Kristin Stubbins, PwC, Lewis Jackson, Praveen Menon, Sonali Paul Organizations: SYDNEY, PricewaterhouseCoopers, International, Wyelands Bank, Colonial Bank ., Satyam, Enron, PwC, Thomson Locations: Australia, Brazil, Britain, Alabama, Colonial Bank . India

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