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Banks May See Upside in Small Auditors After PwC Ban

AUG 19, 2014 10:12am ET

New York-regulated banks won't be able to hire PwC for consulting work until 2016 under a penalty handed down by Benjamin Lawsky, the state's banking superintendent. The move could encourage some banks to turn to smaller auditors, who some experts say produce higher quality work and are less expensive.

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