A Moscow court yesterday ruled that PwC had signed off false accounts for Yukos, siding with Russian tax authorities against the audit firm as the state expands its attack on the bankrupt oil group.
PwC said yesterday it had acted in accordance with Russian legislation and said it would appeal against the ruling. "We regret this decision by the court, we believe the claim has no legal merits and is based on a fundamental misunderstanding of the role and functions of the auditor," the firm said in a statement.
The ruling came amid growing state pressure on the audit firm in what some Russian officials view as Russia's Enron scandal. Russian prosecutors this month raided the firm's Moscow offices and the Interior Ministry opened a criminal investigation into alleged tax avoidance by PwC in Russia.
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