Price Waterhouse was fined a record amount

Pricewaterhouse оштрафовали на рекордную сумму

The company made errors in the audit.

British Council financial reporting Council (FRC) has fined PricewaterhouseCoopers (PwC) to a record in its history, the amount of errors that the company made when auditing financial firms of RSM Tenon Group Plc.

The regulator has made a “severe reprimand” and fined in the amount of 6 million pounds, which was reduced to 5.1 million pounds for the cash discount account, based on the study of financial statements for 2011 RSM Tenon, went bankrupt in 2013.

In conclusion, the FRC States that found evidence of significant violations of PwC and a senior partner Nicholas Boden, who was also fined 114,75 thousand pounds.

In addition, the company and the auditor shall reimburse the Board costs of investigation in the amount of 500 thousand pounds.

Earlier in London, was fined a five year old girl for £ 150 (about $ 195) for the sale of lemonade.

According to the materials:

Interfax
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