The Brazil Securities Commission (CVM) will hold a judgment session in Administrative Sanctioning Proceeding (PAS) 19957.010029/2021-61 to assess the potential responsibility of PriceWaterhouseCoopers Auditores Independentes Ltda. and Claudia Eliza Medeiros de Miranda for alleged non-compliance with Brazilian independent audit standards applicable to historical financial information. The alleged shortcomings relate to audit work performed for a Real Estate Investment Fund for the financial year ended 31 December 2018, referencing specific requirements in NBC TA 580 (R1), NBC TA 230 (R1), NBC TA 540 (R1) and NBC TA 200 (R1). The conduct is framed as a possible breach of Article 20 of CVM Instruction 308, subsequently replaced by CVM Resolution 23, and CVM published the acting chair Otto Lobo’s report ahead of the session. The session is scheduled for 22 July at 15:00 and is open to the public, with in-person attendance and videoconference access. If none of the accused or their appointed counsel indicate an intention to participate, the session will proceed in a restricted format via electronic voting, and the published report may be amended following the judgment.
Brazil Securities Commission (CVM) 2025-07-21
Brazil Securities Commission to judge sanctioning case against PwC and auditor Claudia Miranda over alleged breaches of Brazilian auditing standards
The Brazil Securities Commission (CVM) will hold a judgment session on Administrative Sanctioning Proceeding 19957.010029/2021-61 to evaluate PriceWaterhouseCoopers Auditores Independentes Ltda. and Claudia Eliza Medeiros de Miranda for alleged non-compliance with Brazilian audit standards. The case involves audit work for a Real Estate Investment Fund for the year ending 31 December 2018, potentially breaching Article 20 of CVM Instruction 308. The public session is on 22 July, with provisions for electronic voting if necessary.