April 9 (Reuters) - Britain's accounting watchdog on Thursday opened a probe into PricewaterhouseCoopers' financial audit of UK-based investment trust Digital 9 Infrastructure for the fiscal year
FRC Opens Investigation into PWC's Audit of Digital 9 Infrastructure
Overview of the FRC Probe into PWC's Audit
Background of the Investigation
April 9 (Reuters) - Britain's accounting watchdog on Thursday opened a probe into PricewaterhouseCoopers' financial audit of UK-based investment trust Digital 9 Infrastructure for the fiscal year ended December 2023.
Role of the Financial Reporting Council
The investigation will be conducted by the Financial Reporting Council's (FRC) enforcement division under the audit enforcement procedure, the regulator said.
Responses from Key Stakeholders
PWC's Statement on the Investigation
“We will cooperate fully with the FRC in its enquiries. Audit quality is of paramount importance and we are committed to delivering high-quality audits," a PWC spokesperson said in an emailed statement to Reuters.
History of PWC and Digital 9 Infrastructure
PWC was Digital 9's external auditor since its listing on the London bourse in 2021, until the firm decided to wind down in early 2024 after a few years of poor returns and governance issues.
Digital 9's Response
Digital 9 did not immediately respond to a Reuters request for comment.
(Reporting by Prerna Bedi in Bengaluru, Editing by Harikrishnan Nair and Mrigank Dhaniwala)
