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. Last Updated: 07/27/2016

Prosecutors Clear PwC Auditors

The Prosecutor General's Office on Wednesday cleared employees of PricewaterhouseCoopers of wrongdoing in auditing bankrupt oil firm Yukos.

"We are pleased that following its investigation into Yukos, the office of the general prosecutor has confirmed this and has decided not to take any action against PwC Russia, its partners or employees," PwC said Wednesday.

PwC had asked the Prosecutor General's Office to investigate "several" employees who audited the financial reports for Yukos, Vedomosti said Wednesday, citing a source close to the prosecutor's office. The office could not be immediately reached for comment.

In June, PwC withdrew a decade of audited financial reports for Yukos, saying managers had provided inaccurate information.

Yukos, which was pushed into bankruptcy by billions of dollars in tax claims in 2006, is being dismantled through liquidation auctions. The Federal Tax Service and Rosneft hold more than 90 percent of Yukos' debt.

"As we have consistently stated, PwC Russia carried out its audits of Yukos to the highest professional audit standards based on the information available," PwC said Wednesday.

Moscow's Higher Arbitration Court last week ordered a new round of hearings into charges that PwC had evaded millions of dollars in taxes.

A Moscow arbitration court will re-examine the charges, but a date has not been set, PwC said.

Bloomberg, MT