FRC ends investigation of PwC Berkeley audit

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The Financial Reporting Council (FRC) said it has stopped its investigation of PWC's audit of British house building company Berkeley Group.

The FRC was investigating whether PwC's audit of Berkeley in 2012 was independent after a former partner at the Big Four firm joined the board of the housebuilder.

It was examining the audit of Berkeley Group Holdings' financial statements for the year ended 30 April 2012.

However in a statement on their website this week, the FRC said no further action will be taken.

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