PWC partner banned over BHS accounts

A PWC partner has been banned for up to 15 years and handed a record fine over his auditing of BHS’S accounts before it was sold by Sir Philip Green for £1. Steve Denison has been fined £500,000 by the Financial Reporting Council in relation to the standard of the collapsed retailer’s audit for the year to August 30 2014. PWC was also struck with £10million penalty over the inquiry, the biggest sanction imposed by the FRC in its history. Both penalties are expected to be reduced.

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