A PCAOB Case Study of Price Waterhouse Coopers Canada: Widespread Cheating of Auditors on Internal Continuing Professional Education Tests

This is a case study of In the Matter of Pricewaterhouse Coopers LLP, an administrative disciplinary proceeding conducted by the U.S. Public Company Accounting Oversight Board (PCAOB) on February 24, 2022. The specific issues covered in this case include: (a) the PCAOB rules and quality control standards which were violated by Pricewaterhouse Coopers Canada (PwC Canada) during the period 2016-2020; (b) the internal training requirements for PwC Canada personnel; (c) how PwC Canada failed to establish adequate quality control policies and procedures related to integrity and personnel management; (d) the widespread sharing of answers to training tests at PwC Canada; (e) sanctions against PwC Canada imposed by PCAOB; (f) remedial measures required to be undertaken by PwC Canada; (g) implications for CPA firms emanating from this case; (h) implications for auditors emanating from this case; and (i) implications for the PCAOB emanating from this case.