Russian Officials Clear PwC Of Fraud In Yukos Audit

Law360, New York (July 18, 2007, 12:00 AM EDT) -- PricewaterhouseCoopers LLC has been vindicated of any wrongdoing by Russian authorities regarding its audit of bankrupt oil giant Yukos, the international accounting firm said Wednesday.

In a letter introduced in a Russian court on Wednesday, the Russian prosecutor's office informed PwC that it found no evidence of wrongdoing in PwC's Yukos audits. PwC withdrew its audit opinions for the Russian oil giant last month, saying it now believes Yukos' former management may have provided inaccurate information.

“As we have consistently stated, PwC Russia carried out its...
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