PwC fined $5.8 million over audit of Redcentric

13 Jun 2019

PwC fined $5.8 million over audit of Redcentric

LONDON Britain's accounting watchdog said on Thursday it has fined PwC 4.55 million pounds ($5.8 million) over its auditing of IT services company Redcentric.

The Financial Reporting Council said it has also required that PwC, one of the world's "Big Four" accounting firms, supplement the monitoring and support of its audit practice in the northern English city of Leeds.

Two partners, Jaskamal Sarai and Arif Ahmad, were fined 140,000 pounds each.

All fines were discounted to reflect an early settlement of the case.

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