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PWC Agrees to $1M Settlement Over Merrill Audit
PricewaterhouseCoopers has agreed to pay a $1 million penalty to resolve a civil complaint claiming the company’s audit of Merrill Lynch's compliance program was insufficient. So reports Reuters.
The complaint by the Public Company Accounting Oversight Board follows a $415 million settlement that Bank of America’s Merrill Lynch agreed to pay to resolve Securities and Exchange Commission claims that the company failed to take appropriate measures to safeguard clients’ cash assets.
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