The transfer marks the primary time that the regulator has fined an audit agency.
PwC skilled “vital points” all through a 2016 audit of LCF, as per an FCA replace shared at the moment (16 August). This included a senior particular person at LCF appearing aggressively in direction of auditors and the agency offering PwC with deceptive and inaccurate data.
The audit proved complicated and took “significantly longer” than anticipated to finish, the regulator mentioned.
FCA censures London Capital & Finance over mini-bond promotion
“LCF’s actions, and PwC’s personal work on the audit, led PwC to suspect that LCF mig…
