A report from the Financial Reporting Council delivers scathing criticism of PwC’s audit of collapsed retail chain BHS and the partner who headed the work.
PwC's audit of collapsed high-street department store BHS included failings in ethical standards, according to a stinging report from regulators.
The report also revealed that Steven Denison, the engagement partner for BHS, had spent just two hours on the audit of financial statements for the company and parent Taveta Group.
According to a report from the Financial Reporting Council, (FRC) the audit work also failed across planning and considerations of going concern, impairment and the company's income statement.
The FRC said there were also breaches of International Standards of Auditing.
In June the FRC announced that PwC had b
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