PwC fined millions over BHS audit

PwC fined millions over BHS audit
 

Audit giant PwC and partner Steve Dennison have been fined for signing off the accounts of BHS as a going concern before its sale for £1 in 2015.
Regulator the Financial Reporting Council (FRC) said both had admitted "misconduct".
PwC said there were "serious shortcomings with this audit work".
The collapse of BHS in April 2016 led to the loss of 11,000 jobs and a pension deficit of £571m.
The regulator fined PwC £10m, reduced to £6.5m for early settlement.
Partner Steve Dennison was fined £500,000, reduced to £325,000 for settling early.
Mr Denison will also be struck... read more

 
Tuesday, 22:57 in Business, Views: 73
Source: BBC
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