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 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
Shock poll shows voters believe Ukip is to the left of the Tories
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
New era of cheap oil 'will destroy green revolution'
Ukip founder Alan Sked and Nigel Farage 'begged Enoch Powell to stand as a candidate'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
iJobs Money & Business
£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...
£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...
$125 - $175 per annum: Carlton Senior Appointments: Senior Wealth Manager In...
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...