PwC and EY fined for audits of failed minibond firm LCF
Accounting giants PwC and Ernst & Young have been hit with multimillion-pound fines by the sector’s watchdog over their audits of failed minibonds firm London Capital and Finance (LCF).
LCF collapsed in early 2019 after it was unable to meet the payments it had promised to bondholders on high-risk, unregulated investments, owing around £237 million to nearly 12,000 people, many of
