PwC has been hit with fines totalling £5 million for duff audits of Galliford Try and Kier Group, the latest blow to a scandal-torn sector. Sanctions have been imposed against PwC and audit partner Jonathan Hook. It was fined £3 million for its 2018 and 2019 audit of Galliford and another £2 million for its work on Kier’s 2017 account.
Accounting firm failed to adequately scrutinise long-term contracts at construction companies, says FRC
The accounting giant had missed mistakes in the books.