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PwC Fined £6.5M for Audit on Failed British Retailer, Reflecting Increased Scrutiny of Accounting Firms

By David Liuzzo, CC BY-SA 4.0 Accounting Today members of Parliament A recent report

According to Accounting Today, a PwC spokeman said that the failings didn’t contribute to BHS’s collapse. The spokesman told Accounting Today that the FRC's actions have ended the career of the engagement partner; the financial punishment goes well beyond the fine itself; and the lack of of detail means there is no way of knowing if the punishment is proportionate.

was fined