FRC slaps PwC and City partner Jonathan Hook with staggering £5m fine and severe reprimands

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London-based engineering & construction partner Jonathan Hook, with PwC for nearly four decades

The Financial Reporting Council said this morning the watchdog has fined auditor PricewaterhouseCoopers and one of its London partners more than £5m for their audit of two construction companies.

The regulator said that PwC and audit engagement partner Jonathan Hook would also face severe reprimands.

The fines are linked to the audit of Kier Group’s financial results for the year ending June 2017 and Galliford Try’s results ending June 2019.

No further details were made public.