Australia: PwC admits negligence, but not liability, in Centro class action case

Former Centro auditor PricewaterhouseCoopers has for the first time admitted negligence during the class action claim levelled against the accounting powerhouse and the shopping centre owner over Centro’s erroneous 2007 accounts. However, in its mea culpa PwC stopped short of admitting any liability to shareholders bringing the claim against both Centro and PwC, arguing the then company auditor was on retainer to Centro and not to its shareholders.

via PwC admits negligence, but not liability, in Centro class action case — The Australian