April 25 Toshiba Corp has decided to
drop its auditor PricewaterhouseCoopers (PwC) Aarata, which
declined to approve the company's full-year financial statement,
the Nikkei financial daily reported.
The Japanese tech company is in the middle of a conflict
with PwC Aarata over recent results and governance issues at
Westinghouse Electric, its American nuclear subsidiary.
Massive cost overruns at four nuclear reactors being
constructed by Westinghouse in the Southeastern United States
have forced Toshiba to estimate a $9 billion annual net loss and
take drastic measures.
PwC Aarata's refusal to sign-off on Toshiba's results has
given the Tokyo Stock Exchange potential grounds for delisting
The company is in talks with second-tier auditing firms with
which it has no potential conflicts of interest, the Japanese
(Reporting by Laharee Chatterjee in Bengaluru; Editing by