PwC under investigation by accounting watchdog over WH Smith audit

UK accounting watchdog to probe PwC's fiscal 2024 audit of WH Smith

PwC under investigation by accounting watchdog over WH Smith audit

WH Smith admitted last year it overstated profits for its North American business by as much as £50 million because of an accounting blunder.

FRC opens formal probe into PwC’s WHSmith audits

The UK’s Financial Reporting Council (FRC) has launched an investigation into PricewaterhouseCooper’s (PwC) audit of WHSmith after the retailer’s accounts were found to include inflated revenue and profit figures. In a brief statement on 9 June, the FRC said that its Conduct Committee approved the inquiry on 21 April 2026. The probe is related to WHSmith’s accounts for the financial year ended 31 August 2024, the regulator added. The investigati…

FRC To Determine Whether Missing a £30 Million Overstatement Was, In Fact, Bad Auditing

The Financial Reporting Council announced today that they’re officially investigating PwC UK’s 2024 audit of WH Smith which means fines and hand-slaps are likely forthcoming once that gets wrapped up. Although you may have never heard of WH Smith, it’s possible you’ve purchased something from one of their shops if you’ve ever grabbed a pair of headphones from an airport InMotion store. We haven’t written about WH Smith here at GC except for a fe…

PwC under investigation over WH Smith audit

The Financial Reporting Council has launched a probe into the accountancy giant's audit of WH Smith’s financial statements