PwC fined over £4.5m for breaches relating to tech firm Redcentric
PwC partners Jaskamal Sarai and Arif Ahmad were each fined a reduced £140,000 after admitting breaches in the standards of their work
13 June 2019 - 13:21
Geneva — PwC was fined £4.55m by the UK’s accounting watchdog over failings in its handling of technology firm Redcentric, giving new ammunition to critics calling for a break-up of the so-called Big Four auditing firms.
The penalty was reduced from £6.5m after the company admitted its wrongdoing ahead of a final decision by the Financial Reporting Council. Two PwC partners, Jaskamal Sarai and Arif Ahmad, were each fined a reduced £140,000 after admitting breaches in the standards of their work, and were also given a “severe reprimand”...
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