PwC fined £3.2m for ‘numerous’ failings in more Babcock audits

Regulator fines PwC and lead partner £3.2m for ‘serious and numerous’ breaches from lack of professional scepticism to failure to challenge management in two further audits for engineering giant Babcock

This is the latest multimillion pound fine for PwC related to the same FTSE client, Babcock International Group plc. Previous audits for the group by PwC also came in for criticism and multimillion pound fines were slapped on the Big Four firm by the Financial Reporting Council (FRC) just three years ago.

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