A U.K. regulator has fined PwC $6.5 million — a record for the watchdog, reports said — for misconduct during its audit of Connaught.
Reports Thursday (May 11) said the Financial Reporting Council slapped PwC with the fine and issued a separate fine to retired PwC audit partner Stephen Harrison for his role in the 2009 audit. Connaught, a social housing maintenance firm, went into administration in 2010, reports added.