The limited liability company PricewaterhouseCoopers (a subsidiary of PwC) has sued the National Bank of Ukraine.
The Kyiv District Administrative Court registered the lawsuit on January 19, Ukrainian News Agency reports.
On January 23, the court opened a case against the National Bank of Ukraine.
The audit company wants the court to rule void an individual act.
As Ukrainian News Agency earlier reported, on July 20, 2017, the National Bank of Ukraine removed PricewaterhouseCoopers audit company (a structure of PwC) from the register of accounting firms authorized to audit banks.
The Ukrainian central bank said that the rationale behind this decision was PricewaterhouseCoopers Audit LLC's verification of misrepresented financial information in the financial statements of CB PrivatBank PJSC. In particular, this concerns information on credit exposure and regulatory capital reported by the bank.
The NBU said that the audit report issued by PricewaterhouseCoopers Audit LLC failed to highlight the credit risk exposure faced by PrivatBank PJSC, which led to the bank being declared insolvent and nationalized, with substantial re-capitalization costs borne by the State.
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