LONDON: Britain’s accounting watchdog has fined PwC a record£5mil (US$6.5mil) over the way it checked the books of collapsed social housing maintenance company Connaught.
The Financial Reporting Council (FRC) also fined Stephen Harrison, a retired PwC audit partner, £150,000 for misconduct in relation to the 2009 audit of listed Connaught, which went into administration in the following year.
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