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PwC Fined Record £6.5M For Misconduct In BHS Audits

Law360, London (June 13, 2018, 10:43 AM BST) -- PricewaterhouseCoopers has been fined a record £6.5 million ($8.7 million) by the U.K. accountancy regulator for misconduct during its auditing of BHS Ltd., a well-known retail chain that collapsed in 2016 with a £571 million pension deficit.

The penalty slapped on PricewaterhouseCoopers for misconduct in its auditing is the biggest the regulator has handed out. (AP) The penalty is the biggest the Financial Reporting Council has handed out, a spokeswoman for the regulator told Law360 on Wednesday. The fine was cut by 35 percent from an original penalty of...
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