PwC, Sanjeev Gupta, Banking, Accountancy, Financial sector, Business Business | The Guardian
FRC severely reprimands accountancy group and one of its former main auditors after ‘serious failings’ in 2019Business live – latest updatesPwC has been fined £2.9m and severely reprimanded by the UK’s accounting regulator for “serious failings” in its audit of the failed Wyelands Bank, which was owned by Sanjeev Gupta, the boss of troubled Liberty Steel.The accountancy group was ordered by the Financial Reporting Council (FRC) to pay the penalty after issues with its audit of the lender’s accounts for the year to 30 April 2019 and told to take action to ensure the failings do not happen again. Continue reading…
FRC severely reprimands accountancy group and one of its former main auditors after ‘serious failings’ in 2019
PwC has been fined £2.9m and severely reprimanded by the UK’s accounting regulator for “serious failings” in its audit of the failed Wyelands Bank, which was owned by Sanjeev Gupta, the boss of troubled Liberty Steel.
The accountancy group was ordered by the Financial Reporting Council (FRC) to pay the penalty after issues with its audit of the lender’s accounts for the year to 30 April 2019 and told to take action to ensure the failings do not happen again.
