PwC fined $8.9 million for breaches on audits in UK

PricewaterhouseCoopers (PwC) has been hit with an $8.9 million penalty for serious breaches during the audit of engineering company Babcock's accounts for 2017 and 2018. UK regulator Financial Reporting Council said breaches were found in "every area" investigated in relation to the audit. PwC also "created a false record" of audit evidence it gathered in relation to a government contract.