PwC fined £2.3m over auditing of subprime lender

The Financial Reporting Council (FRC) has announced the outcome of the disciplinary case relating to PricewaterhouseCoopers LLP (PwC) and its audits of the financial statements of Cattles plc (Cattles) and Welcome Financial Services Limited (Welcome) for the year ended 31 December 2007. A settlement agreed between the FRC’s Executive Counsel,…