The Financial Reporting Council (FRC) has opened an investigation into PwC, over an audit the accountancy firm conducted of Digital 9 Infrastructure.

The audit under investigation covers the consolidated financial statements of Digital 9 Infrastructure for the financial year in 2023.

Digital 9 Infrastructure, which is managed by InfraRed Capital Partners, is a London-based investment company which invests in digital infrastructure.

The FRC said the decision to open the investigation over the audit was made at a meeting of the independent regulator’s Conduct Committee last December.

A PwC spokesperson has confirmed the firm will co-operate with the FRC in its enquiries, according to a Reuters report.

The investigation will be conducted by the FRC’s enforcement division under the regulator’s audit enforcement procedure.

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