The court reversed the decision of the NBU regarding exclusion from the register of the auditor PrivatBank

Суд отменил решение НБУ об исключении из реестра аудитора Приватбанка

Earlier reports of PwC office in Ukraine, PrivatBank was recognized as poor.

The district administrative court of Kiev on may 29, overturned the decision of the National Bank on the exclusion of OOO “PricewaterhouseCoopers (audit)” from the Register of audit firms entitled to audit banks, writes Finclub.

PwC were denied the right to audit banks because of the history with PrivatBank, which was declared insolvent and nationalized, but audiopulse this particular company.

The district administrative court of Kyiv has recognized illegal actions of the National Bank on the cancellation of the certificate of incorporation of the society in the Register of audit firms entitled to audit banks.

The national Bank said that the court decision has not entered into force and the regulator is preparing for his appeal.

The NBU is concerned about the results of consideration of the case and will continue to prove the legality of their actions.

“The basis for such decision (except from the Registry. – Ed.) was the confirmation of LLC “PricewaterhouseCoopers (audit)” false information about financial and economic activities Privat, in particular, credit exposure and regulatory capital. The auditing company was unable to establish the risks in PrivatBank, which subsequently led to its insolvency and no further expenditures related to the nationalization of the Bank”, – said the NBU.

National Bank July 20, 2017 expelled, LLC “PricewaterhouseCoopers (audit)”, 30% of which belongs to the Dutch PwC from the Registry of audit firms eligible for auditing banks. Then the PwC does not exclude the possibility to sue the national Bank, which was deprived of its right to audit the Ukrainian banks.