Big 4 firm fined £5.6m for defence giant audit failures
PwC has been fined £5.6m and two former partners have been severely reprimanded for failures in two annual audits of Babcock companies.
Former Plymouth office leader Heather Ancient, who is now retired, and Nick Campbell Lambert, who has relocated to Sydney with another Big 4 firm, were both also fined by the Financial Reporting Council (FRC).
The punishments follow from FRC's investigations of the audits of Babcock International Group for 2017 and 2018 and Babcock subsidiary Devonport Royal Dockyard for 2018. The regulator... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
