PriceWaterhouseCoopers
PricewaterhouseCoopers
PricewaterhouseCoopers
10000000
2018
20180612
financial offences
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The Financial Reporting Council (FRC) has sanctioned PriceWaterhouseCoopers (PwC) in relation to the 2014 audits of BHS and the Taveta Group following an investigation under the Accountancy Scheme opened in June 2016. PwC received a Severe Reprimand and was fined £10 million.
agency action
UK-FRC
Financial Reporting Council
United Kingdom
privately held
business services
accounting services
https://www.frc.org.uk/news/june-2018/sanctions-against-pwc-and-former-audit-partner-in
UK21-16819
PricewaterhouseCoopers LLP
PricewaterhouseCoopers
PricewaterhouseCoopers
5600000
2017
20170816
financial offences
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PricewaterhouseCoopers LLP wasfined and severely reprimanded after admitting Misconduct in relation to the audit of the financial statements of RSM Tenon Group plc, for the financial year ended 30 June 2011. PwC was fined £6,000,000 (reduced to £5,100,000 after a settlement discount) plus a sum of £500,000 to be paid towards the FRC's Executive Counsel's costs.
agency action
UK-FRC
Financial Reporting Council
United Kingdom
privately held
business services
accounting services
https://www.frc.org.uk/news/august-2017/sanctions-against-senior-auditor-and-pwc-in-relati
UK21-16823
PwC LLP
PricewaterhouseCoopers
PricewaterhouseCoopers
5000000
2017
20170511
financial offences
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PwC and a retiredaudit partner, were severely reprimanded and fined £5m and £150,000 respectively for Misconduct in relation to the 2009 audit of Connaught plc, a FTSE 250 company which went into administration in 2010. Following a Financial Reporting Council investigation and a 12 day hearing, the independent Tribunal, chaired by the Rt Hon Sir Stanley Burnton, made findings of Misconduct in relation to three areas of audit: mobilisation costs, long term contracts and intangible assets.
agency action
UK-FRC
Financial Reporting Council
United Kingdom
privately held
business services
accounting services
https://www.frc.org.uk/news/may-2017/pwc-llp-and-stephen-harrison-fined-for-misconduct
UK21-16824
PricewaterhouseCoopers LLP
PricewaterhouseCoopers
PricewaterhouseCoopers
3050000
2016
20160831
financial offences
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The Financial Reporting Council announced the outcome of the disciplinary case relating to PricewaterhouseCoopers LLP (PwC) and its audits of the financial statements of Cattles plc and Welcome Financial Services Limited for the year ended 31 December 2007. PwC admitted that its conduct fell significantly short of the standards reasonably to be expected of a Member Firm in issuing unqualified audit opinions in respect of the 2007 Cattles and Welcome financial statements in circumstances where PwC (i) had insufficient audit evidence as to the adequacy of the loan loss provision and (ii) had failed to identify the fact that the impairment policy was not adequately disclosed and that the disclosures in those financial statements were not in compliance with IFRS 7. PwC agreed to receive a Severe Reprimand and pay a Fine of £3,500,000 (reduced to £2,300,000 after mitigation and a settlement discount) as well as £750,000 as a contribution to the Executive Counsel's costs.
agency action
UK-FRC
Financial Reporting Council
United Kingdom
privately held
business services
accounting services
https://www.frc.org.uk/news/august-2016/disciplinary-case-relating-to-pwc%E2%80%99s-audits-of-catt
UK21-16827
PricewaterhouseCoopers LLP
PricewaterhouseCoopers
PricewaterhouseCoopers
London
England
30612
2020
20201013
financial offences
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With the agreement of PricewaterhouseCoopers LLP of London, United Kingdom,the Investigation Committee made an order that the firm be reprimanded,fined £20,000 and pay costs of £10,612 with respect to a complaint that it issued an unqualified audit report that did not meet standards.
agency action
Consent Order
UK-ICAEW
Institute of Chartered Accountants in England and Wales
United Kingdom
privately held
business services
accounting services
https://www.icaew.com/about-icaew/regulation-and-the-public-interest/public-hearings/firms/LONDON/pricewaterhousecoopers-llp/C001004062
UK21-51166
PricewaterhouseCoopers LLP
PricewaterhouseCoopers
PricewaterhouseCoopers
London
England
4550000
2019
20190613
financial offences
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The Financial Reporting Council fined PricewaterhouseCoopers £4.55 million in a Decision finding it breached standards in relation to the statutory audits of the financial statements of Redcentric plc, evidencing a serious lack of competence in conducting the statutory audit work.
agency action
Financial Reporting Council decision
UK-FRC
Financial Reporting Council
United Kingdom
privately held
business services
accounting services
https://www.frc.org.uk/news/june-2019/sanctions-against-pwc-and-partners-in-relation-to
UK21-51283
PricewaterhouseCoopers LLP
PricewaterhouseCoopers
PricewaterhouseCoopers
1959750
2022
20220607
financial offences
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PricewaterhousCoopers agreed to pay a £3.35 million fine, reduced for cooperation and admissions to £1,959,750 in a decision by the FRC that its audits of Kier Group plc did not meet the relevant requirements of statutory audits.
agency action
Admission and early disposal
UK-FRC
Financial Reporting Council
United Kingdom
privately held
business services
accounting services
https://www.frc.org.uk/news/june-2022-(1)/sanctions-against-pricewaterhousecoopers-llp-and-a
UK21-72108
PricewaterhouseCoopers LLP
PricewaterhouseCoopers
PricewaterhouseCoopers
3038750
2022
20220607
financial offences
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PricewaterhousCoopers agreed to pay a £5.5 million fine, reduced for cooperation and admissions to £3,038,750 in a decision by the FRC that its audits of Galiford Try plc did not meet the relevant requirements of statutory audits.
agency action
Admission and early disposal
UK-FRC
Financial Reporting Council
United Kingdom
privately held
business services
accounting services
https://www.frc.org.uk/news/june-2022-(1)/sanctions-against-pricewaterhousecoopers-llp-a-(1)
UK21-72109
PricewaterhouseCoopers LLP
PricewaterhouseCoopers
PricewaterhouseCoopers
2415000
2022
20220808
financial offences
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PricewaterhouseCoopers agreed to pay a £2.5 million fine, reduced for cooperation and admissions to £1,750.000, and were charged costs of £665,000 in a decision by the FRC that its audits of BT breached requirements by failing to meet professional standards for evidence and documentation.
agency action
settlement of FCA Decision
UK-FRC
Financial Reporting Council
United Kingdom
privately held
business services
accounting services
https://www.frc.org.uk/news/august-2022/sanctions-against-pricewaterhousecoopers-llp-and-a
UK21-76623
PricewaterhouseCoopers CI LLP
PricewaterhouseCoopers
PricewaterhouseCoopers
Jersey
British Crown Dependency
234405
2022
20220921
financial offences
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PricewaterhouseCoopers agreed to pay a fine of £215,000 plus £19,405 costs settling a finding by the ICAEW that the company issued an unqualified audit opinion, having failed to obtain sufficient evidence to meet auditing standards.
agency action
Investigation Committee decision
UK-ICAEW
Institute of Chartered Accountants in England and Wales
United Kingdom
privately held
business services
accounting services
https://www.icaew.com/-/media/corporate/ddb/040049MATT-3044175-Pdf_Investigation_Committee_Publicity_Statement.ashx
UK21-79438
PricewaterhouseCoopers LLP
PricewaterhouseCoopers
PricewaterhouseCoopers
5625000
2023
20230308
financial offences
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PwC agreed to pay a £7.5 million fine (reduced by 25% for early settlement) and costs of £733,236 in settlement of a finding by the FRC that it and two former audit partners made serious breaches of standards in the audits of Babcock International Group plc and Devonport Royal Dockyard Limited with repeated failures to challenge management and obtain sufficient appropriate evidence, reflecting a general reluctance to challenge management across those parts of the audits and examples of a failure to follow basic audit requirements, evidencing a lack of competence, care or diligence.
settlement of FRC Decision
UK-FRC
Financial Reporting Council
United Kingdom
privately held
business services
accounting services
https://www.frc.org.uk/news/march-2023/sanctions-against-pwc-and-two-former-audit-partner
UK21-87834
PricewaterhouseCoopers LLP
PricewaterhouseCoopers
PricewaterhouseCoopers
2256625
2023
20230629
financial offences
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PricewaterhouseCoopers LLP was fined £1,990,625 and severely reprimanded for unsatisfactory standards in its audit of Eddie Stobart Logistics plc and agreed to pay costs of £266,000
Admission and early disposal
UK-FRC
Financial Reporting Council
United Kingdom
privately held
business services
accounting services
https://www.frc.org.uk/news/june-2023/sanctions-against-pricewaterhousecoopers-llp-and-a
UK21-93643
12