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Sberbank shareholders approve PwC as 2007 auditor

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MOSCOW, June 29 (RIA Novosti) - Shareholders of Russia's state-owned savings bank Sberbank [RTS: SBER] approved PricewaterhouseCoopers (PwC) Friday as the 2007 auditor for the bank, despite tax claims made against the international accounting firm by Russian authorities.

CEO Andrei Kazmin said earlier the claims were not sufficient enough for Sberbank, majority-owned by the Central Bank of Russia, to end its decade-long cooperation with PwC.

On Tuesday, Russia's Finance Ministry announced it was looking into a complaint filed by tax authorities against U.K.-based PwC this spring.

The Moscow offices of PwC, whose license to operate in Russia was extended for another five years in April, were raided in early March on suspicion of evading $9 million in tax payments. But the company denied any wrongdoing.

Separately, the British auditor has also been accused of helping the now bankrupt oil company Yukos, one of its former clients, to cover up its tax evasion schemes by drawing up two different audit reports in 2002-04.

Along with Sberbank, PwC's current clients in Russia also include utility giant Unified Energy System [RTS: EESR] and natural gas monopoly Gazprom [RTS: GAZP].

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