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PwC, EY fined over London Capital & Finance audit failure

By Sofia Gerace ( May 7, 2024, 09:34 GMT | Insight) -- Three audit firms, including PwC and EY, have received fines totaling around 9.3 million pounds from the UK Financial Reporting Council, for failures in their audits of London Capital & Finance, an investment fund that collapsed in 2019. In the financial year ending in April 2016, LCF issued 9.2 million pounds in bonds, and a further 53.4 million pounds the following year.Three audit firms, including PwC and EY, have received fines totaling around 9.3 million pounds ($11.6 million) from the UK Financial Reporting Council, for failures in their audits of London Capital & Finance, an investment fund that collapsed in 2019....

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