PwC UK Fined £7.5 Million For Faking Evidence and Other Such Terrible Auditing of a Government Contractor
The Financial Reporting Council has fined PwC £7.5 million ($8.9 million USD) for work related to Babcock, a multinational corporation headquartered in the UK providing, among other things, engineering services. Babcock conducts most of its business with the government, particularly the Ministry of Defence (don’t @ us, that’s how they spell it across the pond). […]
Deloitte UK Got a 27.5% Discount on Audit Fines For Admitting They Screwed Up
That sound you hear? It’s KPMG leadership breathing a heavy sigh of relief for not being the name attached to audit failure headlines this week. Our lucky winner today is Deloitte. The Financial Reporting Council has fined Deloitte UK more than £900,000 (a cool $1,081,444 Federal Reserve notes) over its shoddy audit work for building […]
Let’s Congratulate Grant Thornton For Its Dynamic and Record-Breaking Audit Failure Rate
Colin put this in ANR this morning but it's the kind of thing that deserves a post of its own just to make sure you don't miss it and mock appropriately: The Public Company Accounting Oversight Board gave a failing grade to Grant Thornton on 65 percent of audits inspected in 2012, the highest failure […]