The Financial Reporting Council (FRC) gave PwC a financial sanction of £3.35m, reduced for mitigating factors and admissions to £1,959,750, and it was also given a severe reprimand; and had to acknowledge that the audit report did not satisfy the relevant requirements. The firm also has to report to FRC on certain audits conducted in 2022-2023 which feature long-term contracts in the construction, engineering and aerospace industries. It must also update the regulator on the impact of remedial actions put in place.

The audit partner, Jonathan Hook, who had been responsible for the Kier audit since 2014, was given a fine of £52,650, reduced from the initial £90,000. He was also given a severe reprimand but can continue to work as an auditor.