April 26, 2010
Auditors cut off Iran
Two major international accounting firms cut ties with Iran.
The decision by PricewaterhouseCoopers and Ernst & Young, reported last Friday by The New York Times, means all of the “big four” international auditors have severed ties with the Islamic Republic.
Losing access to the approval of the major auditors could discourage risk-averse investors.
The U.S. government has been stepping up pressure on major firms to isolate Iran while ratcheting up efforts to force the Islamic Republic to make more transparent its suspected bid to develop a nuclear weapon.
Last week, Congress’ Government Accountability Office listed 41 firms that have invested heavily in Iran’s energy sector.
In recent days, top U.S. officials have pressed Russia and Switzerland to intensify Iran’s isolation.
The Associated Press reported last Friday that Iran will allow United Nations nuclear inspectors greater access to its uranium enrichment activities.