The accountancy watchdog, the Joint Disciplinary Scheme, is looking into the role of the firm as auditors to BCCI before it crashed with debts of $17bn in 1991. Chris Dickson, head of the JDS, says he intends to decide what action to take before the end of the year.
A full-scale JDS inquiry, if it is appointed, could lead to individuals being barred from practising. It would focus on why Price Waterhouse - now part of PricewaterhouseCoopers - failed to report fraudulent practices at the bank, despite a series of tip-offs. It would also ask if the firm had any conflicts of interest.