UK watchdog investigates PwC audit of retailer WH Smith
The FRC is investigating PwC's 2024 audit of WH Smith. This follows a separate FCA probe into the retailer. PwC said it is fully cooperating with the regulator.
Insights:
The United Kingdom Financial Reporting Council launched an investigation into the audit of WH Smith for the financial year ended August 2024. This probe adds to an existing Financial Conduct Authority investigation into the travel retailer for potential breaches of listing and disclosure rules. The dual regulatory scrutiny increases pressure on the retailer's governance standards and financial reporting transparency.
