Accounting watchdog announces the closure of its investigation into PwC as auditors of Tesco
The Financial Reporting Council (‘FRC’) announces the closure of its investigation into the conduct of PricewaterhouseCoopers LLP (‘PwC LLP’) and certain Members of the Institute of Chartered Accountants in England and Wales in their capacity as auditors of Tesco plc (‘Tesco’).
The Executive Counsel to the FRC has concluded that there is not a realistic prospect that a Tribunal would make an Adverse Finding against PwC LLP and certain Members in respect of the matters within the scope of the investigation.
The investigation into certain other Members of the accountancy bodies is ongoing.
