FRC probing PwC audits at collapsed property group Intu
By 
Kyle Brasseur2023-02-16T15:14:00
The U.K. Financial Reporting Council (FRC) launched an investigation into PwC’s audit work at collapsed real estate investment trust Intu Properties.
The probe, announced Thursday, is focused on the Big Four firm’s audits of Intu’s financial statements for the years ended December 2017 and 2018. The investigation does not currently relate to any individuals.
“We will cooperate fully with the FRC in its inquiries,” said a PwC spokeswoman in an emailed statement. “Delivering consistently high-quality audits remains our primary focus, and we continue to make significant investment in our audit practice.”
Related articles
-
News Brief
FRC drops investigation into PwC’s Intu Properties audits
The U.K. Financial Reporting Council announced it closed its investigation into Big Four firm PwC’s audit work at collapsed real estate investment trust Intu Properties.
-
News BriefPwC fined $6.6M over Babcock International, Devonport audit breaches
The U.K. Financial Reporting Council fined Big Four firm PwC more than £5.6 million (U.S. $6.6 million) for failing to challenge management, obtain sufficient evidence, and follow basic requirements while conducting audits of a British defense contractor and its subsidiary.
-
News BriefFRC probing EY audit of Veolia unit
The U.K. Financial Reporting Council launched an investigation into Big Four audit firm EY’s work at Scotland-based Stirling Water Seafield Finance.
More from Regulatory Enforcement
-
News BriefFTC complaint accuses LA Fitness parent companies of blocking easy membership exits
The Federal Trade Commission filed a complaint against LA Fitness’ parent companies, citing difficulties canceling memberships, a month after a court blocked the agency’s click-to-cancel rule.
-
ArticleJudge orders CVS to pay nearly $290M for Medicare false claims
CVS’s Caremark division knowingly overcharged Medicare for prescription drugs and must pay nearly $290 million, a Pennsylvania federal judge has ordered.
-
News BriefSEC charges duo in $275 million water vending machine Ponzi scheme
The owner of a water machine vending company and a portfolio manager were allegedly behind a Ponzi-like scheme that raised more than $275 million, according to the U.S. Securities and Exchange Commission.