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PwC fined £4.5m over Wyelands Bank audit

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PwC and partner at the firm, Jonathan Hinchliffe, have been fined by regulators for failings in their audit of Wyelands Bank when it was part of the sprawling Gupta Family Group Alliance.

Headed by Indian-born business magnate Sanjeev Gupta, the Gupta Family Group Alliance, which runs companies across steel, aluminium and renewable energy, took over Wyelands in 2016.

Big Four firm and partner sanctioned by audit regulator for not understanding the extent of Wyelands’ ties to the Gupta Family Group Alliance

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