PwC under investigation for a company’s audit
The Financial Reporting Council (FRC) has commenced an investigation under the Audit Enforcement Procedure into the conduct of PricewaterhouseCoopers (PwC) LLP, in relation to the audit of the financial statements of Redcentric plc (Redcentric) for the years ended 31 March 2015 and 31 March 2016.
The decision to investigate follows Redcentric’s announcement dated 23 December 2016 of the conclusion of an independent investigation into Redcentric’s accounting practices and the consequent restatement of the company’s consolidated financial statements and other financial information relating to those years.
The FRC’s investigation will consider, but not be restricted to, issues regarding misstated accounting balances.
Source: FRC
