- PwC's U.S. unit will stop providing certain consulting work to audit clients to avoid conflicts of interest and strengthen audit quality.
- PwC plans to implement 12 new policies in the U.S. between 2024 and 2026 to meet growing expectations for auditors.
- The change would have no effect on PwC's audit-related or tax work for clients.
- PwC's plan aims to bolster fraud detection, expand audit reports, and provide additional training on ethics and fraud.
- Other Big Four accounting firms have not announced similar plans to scale back on consulting work for U.S. audit clients.
Central banks around the world are pausing tightening campaigns as inflation eases and economies slow. Inflation-targeting regimes are keeping their own houses in order, while the US Fed's key inflation gauges fell to the slowest annual paces since late 2021.
Two massive earthquakes on Monday have devastated cities and towns across Turkey and Syria, with death toll of over 16,000. This is one of the worst natural disasters this century, alongside the 2004 Sumatran Tsunami, 2010 Haiti earthquake and 2008 Cyclone Nargis.
A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead, including the hotly debated "no landing" scenario. Reports on U.S. durable goods orders, home prices, manufacturing and consumer confidence threaten to cement expec