June 13, 2019 / 6:13 AM / 4 days ago

PwC fined $5.8 million over audit of Redcentric

LONDON, June 13 (Reuters) - Britain’s accounting watchdog said on Thursday it has fined PwC 4.55 million pounds ($5.8 million) over its auditing of IT services company Redcentric .

The Financial Reporting Council said it has also required that PwC, one of the world’s “Big Four” accounting firms, supplement the monitoring and support of its audit practice in the northern English city of Leeds.

Two partners, Jaskamal Sarai and Arif Ahmad, were fined 140,000 pounds each.

All fines were discounted to reflect an early settlement of the case.

$1 = 0.7881 pounds Reporting by Huw Jones, editing by Sinead Cruise

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