New Posts For Thread: PwC fined £6.5m over 'lack of competence' in audithttps://community.betfair.com/chit_chat/go/thread/view/94038/31536091/pwc-fined-65m-over-lack-of-competence-in-auditAccounting giant PwC has been fined £6.5m over its audit of the cloud computing firm Redcentric.The Financial Reporting Council (FRC), which regulates auditors, reduced the fine to £4.55m after PwC admitted its mistakes.The FRC said some of the breAlways interesting how issues brought up by the lower ranks would be brushed aside by the partner when in the presence of the individual who would be signing future engagement letters, often accompanied by generous re-definitions of the concept of mahttps://community.betfair.com/chit_chat/go/thread/view/94038/31536091/pwc-fined-65m-over-lack-of-competence-in-audit?post_id=557360845#557360845Always interesting how issues brought up by the lower ranks would be brushed aside by the partner when in the presence of the individual who would be signing future engagement letters, often accompanied by generous re-definitions of the concept of maThu, 13 Jun 2019 10:20:01 -0500Decades ago I worked for one of the big four.It amazed me how poor the previous year's audit was in many cases.I would be wading through s**** in the balance sheet in my year that should have been ripped out years back.What went down well with the bihttps://community.betfair.com/chit_chat/go/thread/view/94038/31536091/pwc-fined-65m-over-lack-of-competence-in-audit?post_id=557360807#557360807Decades ago I worked for one of the big four.It amazed me how poor the previous year's audit was in many cases.I would be wading through s**** in the balance sheet in my year that should have been ripped out years back.What went down well with the biThu, 13 Jun 2019 10:16:14 -0500The big accountancy firms make a lot more money from their big clients from consultancy than from audit.Clearly a conflict of interest.https://community.betfair.com/chit_chat/go/thread/view/94038/31536091/pwc-fined-65m-over-lack-of-competence-in-audit?post_id=557360059#557360059The big accountancy firms make a lot more money from their big clients from consultancy than from audit.Clearly a conflict of interest.Thu, 13 Jun 2019 08:22:49 -0500Accounting giant PwC has been fined £6.5m over its audit of the cloud computing firm Redcentric.The Financial Reporting Council (FRC), which regulates auditors, reduced the fine to £4.55m after PwC admitted its mistakes.The FRC said some of the brehttps://community.betfair.com/chit_chat/go/thread/view/94038/31536091/pwc-fined-65m-over-lack-of-competence-in-audit?post_id=557360019#557360019Accounting giant PwC has been fined £6.5m over its audit of the cloud computing firm Redcentric.The Financial Reporting Council (FRC), which regulates auditors, reduced the fine to £4.55m after PwC admitted its mistakes.The FRC said some of the breThu, 13 Jun 2019 08:19:06 -0500