Top Accounting Firms Fail UK Regulator's Quality Test

Law360, London (July 10, 2019, 12:15 PM BST) -- Auditors responsible for assessing the financial health of the largest companies on the London stock exchange are making too many mistakes, Britain's accounting watchdog warned Wednesday, as the industry reels from a confidence crisis after high-profile business collapses.

PricewaterhouseCoopers, one of the Big Four auditors, was among those singled out by the accounting watchdog as it said the companies are making too many mistakes. (AP) Inspections show that the overall quality of work at U.K. companies has not improved since last year and that no auditors are meeting quality control standards, the Financial Reporting Council said. Grant Thornton and PricewaterhouseCoopers —...

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