PwC and KPMG fined £10.5m for audit breaches in UK as pressure mounts to split up the “big 4” accountancy firms
Previously much sought after, the "big four" have faced increasing criticisms over their roles in failed companies and misconduct all over the world
Report of the Presidential Tripartite Committee
PricewaterhouseCoopers LLP (PwC) and KPMG, two of the world’s
largest “big 4” accounting firms were fined £4,550,000 and £6 million
respectively for audit breaches in the United Kingdom.
On 13th June 2019, the Financial Reporting
Council (FRC) UK’s regulator of auditors, accountants and actuaries, issued a
Final Decision N
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