<p>PwC has shut down operations in more than a dozen countries that are deemed too small, risky or unprofitable, as the Big Four accounting firm aims to prevent repeats of scandals that have affected it, the <em>Financial Times</em> reported on Wednesday.</p><p>The decision was taken due to mounting differences with local partners, the <em>FT</em> said, citing people familiar with the matter.</p><p>Local leaders at the firm said they lost over a third of their business in recent years after pressure from PwC's global executives to drop risky clients, according to the report.</p><p>PwC has faced an exodus of clientele and layoffs since last year.</p>.The Bahamas suspends SpaceX landings, pending post-launch probe.<p>PwC declined to comment on the report to <em>FT</em>. PwC did not immediately respond to a <em>Reuters</em> request for comment outside business hours.</p><p>The accounting giant has cut ties with its Sub-Saharan Francophone Africa firms after a strategic review, the company said last month.</p><p>China hit PwC's mainland China unit with a six-month suspension and a $62 million fine for audit failures related to property developer China Evergrande's $78 billion fraud.</p><p>Last month, Britain's Financial Reporting Council fined PwC 4.5 million pounds ($5.96 million) in relation to the audit of Wyelands Bank for its 2019 financial year.</p><p>The firm is working with Saudi Arabia and its sovereign wealth fund to mend relations after the kingdom suspended activities between the $925 billion fund's holding company and PwC.</p>
<p>PwC has shut down operations in more than a dozen countries that are deemed too small, risky or unprofitable, as the Big Four accounting firm aims to prevent repeats of scandals that have affected it, the <em>Financial Times</em> reported on Wednesday.</p><p>The decision was taken due to mounting differences with local partners, the <em>FT</em> said, citing people familiar with the matter.</p><p>Local leaders at the firm said they lost over a third of their business in recent years after pressure from PwC's global executives to drop risky clients, according to the report.</p><p>PwC has faced an exodus of clientele and layoffs since last year.</p>.The Bahamas suspends SpaceX landings, pending post-launch probe.<p>PwC declined to comment on the report to <em>FT</em>. PwC did not immediately respond to a <em>Reuters</em> request for comment outside business hours.</p><p>The accounting giant has cut ties with its Sub-Saharan Francophone Africa firms after a strategic review, the company said last month.</p><p>China hit PwC's mainland China unit with a six-month suspension and a $62 million fine for audit failures related to property developer China Evergrande's $78 billion fraud.</p><p>Last month, Britain's Financial Reporting Council fined PwC 4.5 million pounds ($5.96 million) in relation to the audit of Wyelands Bank for its 2019 financial year.</p><p>The firm is working with Saudi Arabia and its sovereign wealth fund to mend relations after the kingdom suspended activities between the $925 billion fund's holding company and PwC.</p>