PwC appoints 'head of reputation'

ACCOUNTANCY giant PricewaterhouseCoopers (PwC) has appointed its first ever "head of reputation" as a direct result of criticism in a House of Lords report into the role of the "big four" auditors during the banking crisis.

The Lords accused the "oligopoly" of PwC, Deloitte, Ernst & Young and KPMG of "complacency" and failing to warn regulators about the risk of a banking collapse.

Richard Sexton, head of PWC's assurance division and who is on the group's executive board, will take on his extended role at the start of July.