accountancy firms

PricewaterhouseCoopers (PwC) and Ernst & Young (EY), two of the largest accounting firms globally, have been fined a total of £9.3 million (or $12.648 million) for failing in their duties while auditing the accounts of London Capital & Finance (LC&F), a collapsed mini-bond firm. The Financial Reporting Council (FRC) investigated the auditing failures over almost…