The national Bank has removed the PwC from among the auditors of banks

Нацбанк исключил PwC из числа аудиторов банков

The decision by PwC was made on 20 July

The findings of the company do not reflect the real risks of the work of PrivatBank.

The national Bank of Ukraine has ruled out OOO PricewaterhouseCoopers (PwC Ukrainian division) from the Registry of audit firms eligible for auditing banks. This decision was made by the NBU Board on appeal of Committee on questions of audit of banks of Ukraine, the press service of the regulator.

“The basis for this decision was the confirmation, OOO PricewaterhouseCoopers of providing false information on the financial-economic activity of PJSC CB PrivatBank, in particular, credit exposure and regulatory capital”, – stated in the message.

It is alleged that the companies did not reflect the real risks of the work of PrivatBank, which have led to the recognition of the Bank insolvent, its nationalization and substantial expenditures for capitalization.

It is noted that the right of the National Bank exclusion from the register of auditors of banks is provided by article 7 of the law On the National Bank of Ukraine and article 70 of the law On banks and banking activities and specified in the normative legal acts of the NBU.

The practice of distancing the regulator from the audit of banks consistent with international approach and is based on the 27th principle of the Basic principles of banking supervision of the Basel Committee.

As reported Корреспондент.netin January of this year, the NBU accused PwC of fraud with the assets of PrivatBank. The company estimated the deposits in the Bank times more than their real value.

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