Ukrainian central bank bars PwC from further audits

The National Bank of Ukraine
The National Bank of Ukraine
Oksana Parafeniuk

Ukraine’s central bank has blocked accounting firm PwC from doing any further audits of the country’s commercial banks, it announced on July 20.

The National Bank of Ukraine (NBU) said it acted due to PwC’s “verification of misrepresented financial information in the financial statements” of the major lender PrivatBank. “In particular, this concerns information on credit exposure and regulatory capital reported by the bank”, the NBU added.  

PrivatBank, Ukraine’s largest commercial bank, was

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