London — Britain’s Financial Reporting Council said on Thursday it would investigate PwC’s audits of BT Group for 2015 to 2017, after an accounting scandal in the telecoms company’s Italian operations. BT in January lost one fifth of its market value after it uncovered a complex accounting scandal at its Italian business, resulting in a £530m write-down, and said there had been a slowdown in its British government work. The company filed a criminal complaint with Italian prosecutors in April, accusing several former executives and other employees of unlawful conduct.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.