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. Last Updated: 07/27/2016

PwC Withdraws Decade of Yukos Audits

PricewaterhouseCoopers said it withdrew a decade of audits of financial reports for bankrupt oil firm Yukos on the conclusion it may have inaccurate information, the Wall Street Journal reported Sunday.

The decision to withdraw the audits for 1994 through 2004 may aid the case against former Yukos CEO Mikhail Khodorkovsky, who is accused of fraud and money laundering at Yukos, the paper said, citing a company statement.

The accounting firm said it had received new evidence during the past few months that led it to believe it may have received inaccurate information from the company's former management, the newspaper said.

PricewaterhouseCoopers, which has appealed a Russian court decision that found the auditor guilty of helping Yukos avoid taxes, may face the loss of its license in Russia if it is ultimately found guilty, the Journal said.