PracticeAuditFRC scraps investigation into PwC’s Berkeley Group audit

FRC scraps investigation into PwC’s Berkeley Group audit

FRC ends probe into PwC's independence when it conducted the audit of house building company Berkeley Group Holdings

THE UK ACCOUNTANCY WATCHDOG has scrapped its investigation into PwC’s work as auditor of Berkeley Group Holdings.

PwC’s independence was scrutinised by the FRC during the period the it conducted the audit of house building company Berkeley Group Holdings for the year ended 30 April 2012 – after a former PwC partner joined Berkeley’s board.

The FRC said the investigation, which Accountancy Age understands related to the appointment of PwC’s former UK vice-chairman Glyn Barker as a non-executive director on 3 January 2012, has now been closed and no further action will be taken.

Accountancy Age understands the investigation was into the independent feedback role that Barker held when at PwC and whether Barker was in the “chain of command” by receiving feedback from Berkeley.

PwC, which was replaced by KPMG as Berkeley’s auditors in December last year, said it “cooperated fully” with the FRC and was “pleased that, having investigated the matter, the FRC has closed it without any further action”.

Yesterday, the FRC launched a formal investigation into Baker Tilly’s audit of electric vehicle specialist Tanfield Group.

Related Articles

PwC pay gap review finds “no evidence of gender bias” at BBC

Audit PwC pay gap review finds “no evidence of gender bias” at BBC

2w Alia Shoaib, Reporter
Carillion collapse: FRC to investigate KPMG over audit work

Audit Carillion collapse: FRC to investigate KPMG over audit work

4w Alia Shoaib, Reporter
PwC’s slapped with 2 year audit ban in India

Audit PwC’s slapped with 2 year audit ban in India

1m Alia Shoaib, Reporter
PwC found negligent by US judge over Colonial Bank's $2bn fraud

Audit PwC found negligent by US judge over Colonial Bank's $2bn fraud

2m Alia Shoaib, Reporter
Top 5 audit fines of 2017

Audit Top 5 audit fines of 2017

2m Alia Shoaib, Reporter
The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

3m Carl Johnson, Stephensons
FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

3m Alia Shoaib, Reporter
KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

4m Emma Smith, Managing Editor