Lawyers for professional services group RSM Tenon have raised "serious concerns" about the quality of PwC's audit and advised Tenon may have a legal claim, according to reports.
The Times reports Britain's biggest accountancy firm has responded by accusing Tenon of misleading its audit team "through both omission and deliberate misrepresentation", documents show. Ian Powell, PwC's senior partner, is understood to have met Adrian Martin, Tenon's chairman, to try to defuse the situation. Both firms refused to comment to the Times. Tenon revealed in January its two top directors had stepped aside amid mounting losses and it would have to restate its last full-year accounts. The Times reports the extent of its financial troubles only came to light after Tenon ...
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