PwC | News | Accounting

An overview of PwC news in the UK in the Accounting industry:

Big Four foisting 'high risk' clients onto smaller competitors The Financial Reporting Council has found that the Big Four’s auditing function has collectively improved for two consecutive years.
28 July 2022
PwC probed over audits of construction groups Kier and Galliford Try As the UK’s accounting watchdog attempts to pressure the UK’s top accounting firms over a decline in standards, it has launched a new investigation into two PwC auditing contracts.
23 February 2022
Labour pledges to take on Big Four audit "cartel” The Big Four of PwC, KPMG, Deloitte and EY could face an audit-sector overhaul, should the Labour Party win the 2019 general election.
29 November 2019
PwC to replace rival KPMG in ITV audit role Following the news KPMG was not competing to continue in its role as ITV’s external auditor, rival PwC has swooped to pick up the valuable accounting contract.
27 November 2019
EY and PwC also sold consulting work to Thomas Cook Big Four audit and advisory firms PwC and EY have come under scrutiny for selling consulting and accounting services to Thomas Cook in the lead up to the company’s collapse.
05 November 2019
PwC wins tender to replace rival KPMG at Cineworld Cineworld has selected PwC to replace KPMG as external auditor following a tender process launched to keep the company “in accordance with good corporate governance policy on audit rotation.” The move comes s
28 June 2019
PwC stung with fine for 'serious lack of competence' In a startlingly blunt assessment of PwC’s accounting work for Redcentric, the UK’s auditing watchdog has said the firm exhibited a “lack of competence”, before slapping a fine of more than £4 millio
20 June 2019
Accounting error adds £40 million to Kier Group debts Global construction company Kier Group has announced it has an additional £40 million of debt, following an accounting error.
14 March 2019
PwC criticised for alleged conflicts of interest auditing Staffline PwC has been accused of ignoring conflicts of interest at a listed audit client, at which two senior members of staff were former members of the Big Four firm.
06 March 2019
PwC uses drone to assist audit in global first Big Four firm PwC has piloted the use of a drone for an audit of a client in the energy sector, in a global first for the firm.
07 January 2019
CMA calls for audit market cap but stops short of Big Four break-up The Big Four audit and advisory firms face an unprecedented limit to their market share, following the conclusions of a probe by the UK’s competition ombudsman.
17 December 2018
Big Four rivals outline recommendations for changing UK audit market Some of the UK’s largest auditing and advisory firms have called for changes to the UK accounting scene, ahead of the Competition & Markets Authority’s industry probe.
22 November 2018
Big Four accounting firms brace for competition probe from CMA As pressure continues to mount on the top figures of the auditing and advisory industry, the dominance of the Big Four in the accounting arena will now be the subject of a landmark competition probe.
15 October 2018
Big Four firms wary of Sports Direct's hunt for new auditor As competition rules have led to Grant Thornton having to stand aside as the auditor of Sports Direct, the retail group has been left struggling to replace the firm.
19 September 2018
PwC steps back from Wasps role over 'falsified' information Big Four firm PwC has resigned as auditor for Wasps Holdings, a group best known for its ownership of Wasps Rugby.
09 July 2018
PwC fined and Partner banned from accounting over BHS audit Following an investigation into the collapse of British retailer British Home Stores, PwC and a former Partner of the firm have been fined on the grounds of ‘misconduct’.
29 June 2018
Big Four maintains dominance of FTSE 100 and 250 audits Despite building pressure on watchdogs and UK lawmakers to break up the Big Four, the top accounting and advisory providers remain dominant in the UK auditing market after the first quarter of 2018.
04 June 2018
PwC partners Northern Trust to launch blockchain audits Big Four professional services firm PwC has partnered global asset management company Northern Trust to launch a new blockchain-based auditing system.
22 March 2018
Financial professional services could add £16 billion in taxes by 2025 UK accounting and legal firms paid £15.5 billion in taxes last year.
30 October 2017
PwC fined £5 million for ‘misconduct’ in Connaught audit Big Four accounting firm PwC has been charged with ‘misconduct’ over its auditing services and has to pay the £5 million, the largest fine ever to be administrated by the Financial Reporting Council,
17 August 2017
PwC replaced by EY as external auditor at Tate & Lyle Top UK-based food conglomerate Tate & Lyle has confirmed it has ended a 28-year relationship with former auditors PwC.
10 August 2017
Watchdog probes Deloitte audit of Mitie accounts Britain's accounting watchdog is investigating Deloitte's auditing of Mitie Group, the outsourcing company that issued a string of profit warnings last year.
08 August 2017
European report calls for greater regulation of Big Four auditors A survey on global tax avoidance, prompted by the Panama papers scandal in 2016, has called for new measures to hold the auditing practices of Big Four firms Deloitte, EY, KPMG and PwC to account.
10 July 2017
PwC UK to add 1,000 technology specialists to Risk Assurance unit Digital technology comes with costs, as cyber security threats mount and global cyber-crime damage hits $400 billion per year.
19 September 2016
PwC launches cloud based accounting service PwC Next PwC’s cloud based accounting platform, PwC Next, is looking to work together with Australian and New Zealand based tech startups.
25 May 2016
PwC closes down 7 offices in Germany, leaves staff grumbling Seven of PwC’s offices closed down in Germany last year, as the firm sought to save itself €25 million per year in costs.
05 May 2016
PwC buys Ellis Financial Systems for tax reporting rules PwC has acquired Ellis Financial Systems for an undisclosed sum. The deal sees Ellis’ tax related software packages move to PwC.
11 September 2015
Towers Watson appoints PwC as auditor for LifeSight Towers Watson has appointed PwC as auditor for LifeSight, its DC master trust for the UK market.
14 July 2015
35 most talented accounting & advisory professionals Platform Accountancy Age has released the 2015 edition of its ‘35 under 35’ ranking. This list recognises the 35 most talented accounting and advisory professionals under the age of 35.
26 May 2015
PwC under fire for using corporate jets of client PwC has not had the best of weeks recently.
20 February 2015
KPMG, Grant Thornton and PwC win IAB 2014 award Last week the International Accounting Bulletin (IAB) announced the winners of its global awards. Among the finalists were several professional services firms also active in the consulting industry. KPMG turned out one of the
25 September 2014
Barclays may leave accountant PwC after 117 years British bank Barclays is considering re-tendering the audit contract with PwC. The accounting firm has been involved with auditing the bank for over 117 years. PwC has contractual relationship with Barclays since 1896, and it r
19 March 2013

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