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UK accounting watchdog fines PwC record 5 million pounds

LONDON: Britain’s accounting watchdog has fined PwC a record five million pounds (US$6.5 million) over the way it checked the books of collapsed social housing maintenance company Connaught. The Financial Reporting Council (FRC) also fined Stephen Harrison, a retired PwC audit partner, 150,000 pounds for misconduct in relation to the 2009 audit of listed Connaught, which went into administration in ...

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