Toshiba  (TOSYY) is dropping PricewaterhouseCoopers as its independent financial auditor, the Nikkei Asian Review reported, after the firm recommended continuing an investigation into the sudden discovery of the losses stemming from the bankruptcy of nuclear-plant manufacturer and Toshiba subsidiary Westinghouse. 

PwC did not recommend that the company's previous financial disclosures needed updating, but would not sign off on future disclosures until it completed its investigation. The firm refused to sign off on Toshiba's earnings results for the nine months ending December 31, placing the Japanese company in danger of being delisted by the Tokyo Stock Exchange. 

TheStreet Recommends