PwC is investigated over its auditing of Barclays Capital
Saturday 17 December 2011
One of the big four accountancy firms, PricewaterhouseCoopers, was yesterday put under investigation by the profession's disciplinary board over its role as auditor to Barclays Capital.
It is the second time this year that PwC, led by chairman Ian Powell, pictured, has been referred to the Accountancy & Actuarial Discipline Board following huge fines levied on its investment banking clients.
The referral follows the£1.2m fine on BarCap by the Financial Services Authority this year for mixing its own and clients' money over eight years. Investment banks have strict rules which require them to keep customers' money separate from their capital.
The investigation will probe whether PwC'sreports to the FSA complied with the regulator's rules.
A PwC spokesman said: "We will bedefending our work vigorously."
PwC was also referred over its role in auditing JPMorgan.
- 2 Russian girl takes her own life after parents find pornography on her computer
- 4 Ball pool for adults opens in London
- 5 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
Russian girl takes her own life after parents find pornography on her computer
Kim Kardashian on Bruce Jenner's 'story': 'We support him no matter what, and I think when the time is right, he'll talk'
Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
Ball pool for adults opens in London
Amal Clooney gives excellent response to fashion question at European Court of Human Rights
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
iJobs Money & Business
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...