PwC’s dual role as auditor and tax adviser under US scrutiny

The US Public Company Accounting Oversight Board is investigating whether PwC’s provision of both tax advice and auditing services to Caterpillar Inc. created a conflict of interest, and whether US rules should be modified to prohibit accounting firms from operating in these dual roles, according to a November 19 article by Michael Rapoport of the Wall Street Journal. For in-depth discussion, see Wall Street Journal.