PwC fined over Kier and Galliford Try audits

The Financial Reporting Council has fined PwC and former partner Jonathan Hook over failures during the audits of accounts for Galliford Try and Kier.
The breaches concern failures to properly audit revenue recognised under specific complex long-term contracts.
PwC was fined just over £3m for failure to adequately challenge revenue and costs recognised by Galliford Try’s management on a large and complex long term construction contracts.The fine was reduced from £5.5m reflectin