PwC and KPMG fined £10.5m for audit breaches in UK as pressure mounts to split up the “big 4” accountancy firms

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Previously much sought after, the "big four" have faced increasing criticisms over their roles in failed companies and misconduct all over the world

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Report of the Presidential Tripartite Committee PricewaterhouseCoopers LLP (PwC) and KPMG, two of the world’s largest “big 4” accounting firms were fined £4,550,000 and £6 million respectively for audit breaches in the United Kingdom. On 13th June 2019, the Financial Reporting Council (FRC) UK’s regulator of auditors, accountants and actuaries, issued a Final Decision N

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