PwC hit with £10m fine for BHS audit failings
The Financial Reporting Council has handed down a record fine of £10m to PwC for failings related to its audit of collapsed retailer BHS.
Audit partner Steve Denison, who was senior partner of PwC's northern region and is the current chairman of Yorkshire County Cricket Club, has been fined £500,000 and agreed not to perform any audit work for 15 years.
In a statement PwC said: "We recognise and accept there were serious shortcomings with this audit work. We are sorry that our work fell well below the professional standards ex... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
