Closure of investigation regarding the audit of Intu Properties plc by PricewaterhouseCoopers LLP

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Published: 19 December 2023

This Press Notice concerns the closure of an investigation into the relevant Statutory Auditor(s) and/or Statutory Audit Firm(s) (both terms as defined in the FRC’s Audit Enforcement Procedure). The investigation did not relate to any persons other than the relevant Statutory Auditor(s) and/or Statutory Audit Firm(s).

The Financial Reporting Council (“FRC”) today announces the closure of its investigation in relation to the audits conducted by PricewaterhouseCoopers LLP of the consolidated financial statements of Intu Properties plc for the years ended 31 December 2017 and 31 December 2018.

The investigation was opened, under the Audit Enforcement Procedure (“AEP”), following a decision by the FRC’s Conduct Committee, on 24 January 2023.

In accordance with Rule 146 of the AEP, the FRC’s Executive Counsel has decided in the circumstances of this case that the relevant person(s) should no longer be liable for Enforcement Action. Accordingly, the case has been closed.