PwC, Berg Kaprow Lewis fined for audit breaches

PricewaterhouseCoopers has been fined by ICAEW's Audit Registration Committee for breaching audit regulation guidelines.

The £750 penalty has been incurred by the Big Four firm for inadvertently allowing 'partners who were not at the time properly appointed as responsible individuals, to take responsibility for and sign audit reports on Charitable Funds within NHS Foundation Trusts.'

A spokesperson for the firm was unwilling to disclose how many partners were found to be in breach of the audit guidelines.

The Committee has also issued top 50 firm Berg Kaprow Lewis with a regulatory penalty of £750 for allowing a principal of the firm to sign a report of the Companies Act 1985.

The principal was not deemed to be properly appointed as a responsible individual at the time of the signing of the report.

Brian Berg, founder of Berg Kaprow Lewis, said the firm had yet to receive a payment request for the fine by the ICAEW, but conceded that it was in breach of audit regulation.

'We accept the fine and it will be paid,' he said.

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