Global audit giant PwC is being investigated by U.K. regulators over a scandal involving broadcaster BT's Italian division, which has been blighted by claims of "inappropriate management behavior" and "historic accounting errors."
The Financial Reporting Council (FRC) announced on Thursday that it would be investigating the audits by PricewaterhouseCoopers LLP (PwC) of BT's financial statements from 2015 to 2017. It added that the investigation related to the scandal of the telecommunication giant's Italian division, called BT Italia.
A PwC spokesman told CNBC in an email: "We will continue to co-operate fully with the FRC in its enquiries. The regulator has a duty to investigate where they believe there is a public interest, in order to give confidence to the financial markets."