News - Midlands
PwC asked to resign as Cattles auditor
PricewaterhouseCoopers (PwC) has resigned as auditor at the request of
the stricken Cattles finance company. Cattles, the owner of
Nottingham-based Welcome Finance, is undergoing a rigorous internal
investigation after reporting financial irregularities stretching back
some two years. In a letter to the directors of Cattles, PwC said it
had “not been privy to the full results of the investigation” and that
it had not been in a position to complete its audit of financial
statements for the year ended 31 December 2008. Grant Thornton has
replaced PwC as Cattles’ auditor.