PwC Fined $4.4M for Auditing Failures in UK
PricewaterhouseCoopers (PwC) has been fined approximately $4.4 million by the United Kingdom's Financial Reporting Council for auditing missteps involving British aerospace and defense firm Babcock International Group. The audit failures included issues with cash pooling, financial arrangements of an overseas contract, and goodwill impairment assessments.
Topics: auditing corporate_governance financial_reporting_council fines