FRC opens inquiry into PwC’s audit of Digital 9 Infrastructure

The UK's Financial Reporting Council (FRC) has initiated a ceremonial probe into PricewaterhouseCoopers’ (PwC) audit of Digital 9 Infrastructure’s consolidated accounts for the twelvemonth ended 31 December 2023.

The enquiry began aft the probe was authorised by the regulator’s Conduct Committee.

According to an FRC statement, the lawsuit has been referred to the FRC’s enforcement part and volition proceed nether the organisation’s Audit Enforcement Procedure.

“The opening of an probe does not bespeak that the FRC has made, oregon volition make, immoderate findings of breach of Relevant Requirements,” the connection said.

Digital 9 Infrastructure is an concern spot listed connected the London Stock Exchange. After respective years of anemic show and governance concerns, the institution decided successful aboriginal 2024 to upwind down.

According to its website, the institution is presently successful a managed wind-down, with InfraRed Capital Partners appointed arsenic the company’s concern manager and alternate concern money manager (AIFM).

InfraRed’s assignment took effect successful December 2024 pursuing receipt of the required regulatory approvals and third-party consents.

PwC served arsenic the trust’s outer auditor since Digital 9’s listing successful 2021, Reuters reported.

In effect to the FRC’s inquiry, PwC said successful an emailed connection to the quality agency: “We volition cooperate afloat with the FRC successful its enquiries. Audit prime is of paramount importance, and we are committed to delivering ‌high-quality ⁠audits."

Digital 9 did not instantly ⁠respond to a Reuters petition for comment.

Earlier this month, the FRC updated its Public Interest Entity (PIE) Auditor Registration Regulations and related guidance governing the PIE Auditor Register.

"FRC opens enquiry into PwC’s audit of Digital 9 Infrastructure" was primitively created and published by The Accountant, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.