PwC Shuts Operations in Dozen Countries Amid Scandal

BUSINESS

By Aniket Chakraborty Apr 17, 2025 Arrow

The decision follows mounting pressure from local partners and differences with PwC’s global leadership, according to the Financial Times.

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Local partners reported a loss of over a third of their business after PwC executives pushed to drop risky clients.

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The accounting giant has faced significant issues, including an exodus of clients and layoffs, adding to the firm's growing troubles.

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PwC declined to comment on the report, with no immediate response to inquiries from Reuters.

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The firm recently severed ties with Sub-Saharan Francophone Africa firms after conducting a strategic review.

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China suspended PwC’s mainland China unit for six months and fined the firm $62 million over audit failures related to China Evergrande’s fraud.

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The UK’s Financial Reporting Council fined PwC £4.5 million for its 2019 audit of Wyelands Bank.

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PwC is working with Saudi Arabia’s sovereign wealth fund to repair relations after the kingdom suspended activities with PwC’s holding company.

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PwC’s global restructuring continues as the firm navigates multiple scandals, client losses, and regulatory scrutiny..

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