PwC handed £5m fine for Kier and Galliford Try audits
PwC handed £5m fine for Kier and Galliford Try audits
Abstract
PwC was fined just over £3m for failure to adequately challenge revenue and costs recognised by Galliford Try’s management on large and complex long-term construction contracts during 2018 and 2019 audits. The fine was reduced from £5.5m to £1.96m for failures during the 2017 audit of Kier. The FRC did not assert that the breaches were intentional, dishonest or reckless. It added that Pwc and Hook provided a good level of cooperation. The F RC said it did not assertion that the breach were intentional.
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