PwC Israel to Pay $2.75 Million for ‘Widespread’ Exam Cheating

Hundreds of PwC Israel staff cheated on internal training tests covering ethics and audit standards, sparking a $2.75 million penalty, the US audit regulator said Tuesday.

The Big Four affiliate is the 10th auditor since 2021 hit with penalties by the Public Company Accounting Oversight Board for failing to stamp out cheating on ethics and other professional training. Last year, KPMG Netherlands paid a record $25 million to settle similar violations that ensnared firm leaders.

“Integrity is fundamental to effective auditing,” Robert Rice, the board’s enforcement and investigations director, said in a statement. “Investors must be able to trust that ...