U.K. To Investigate Audits Into Greensill and Gupta’s Bank
- Financial Reporting Council announces probes of 2019 accounts
- FRC is investigating Saffery Champness and PwC over audits
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The U.K.’s audit regulator has begun investigations into the auditors for Greensill Capital and Sanjeev Gupta’s Wyelands Bank following the collapse of the trade finance specialist.
The Financial Reporting Council will probe Saffery Champness for its audit of Greensill’s 2019 accounts and will separately look at PricewaterhouseCoopers LLP, which audited Wyelands Bank. The investigations will be conducted by the regulator’s enforcement division, it said Monday.