Finance
UK Accounting Watchdog to Probe PWC's Audit of Investment Trust Digital 9
Published by Global Banking & Finance Review®
Posted on April 9, 2026
1 min readLast updated: April 9, 2026
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The UK’s Financial Reporting Council has launched a probe into PwC’s audit of Digital 9 Infrastructure for the year ending December 2023. PwC, Digital 9’s auditor since its 2021 listing, will cooperate, while the trust—now winding down—has yet to comment.
FRC Opens Investigation into PWC's Audit of Digital 9 Infrastructure
Overview of the FRC Probe into PWC's Audit
Background of the Investigation
April 9 (Reuters) - Britain's accounting watchdog on Thursday opened a probe into PricewaterhouseCoopers' financial audit of UK-based investment trust Digital 9 Infrastructure for the fiscal year ended December 2023.
Role of the Financial Reporting Council
The investigation will be conducted by the Financial Reporting Council's (FRC) enforcement division under the audit enforcement procedure, the regulator said.
Responses from Key Stakeholders
PWC's Statement on the Investigation
“We will cooperate fully with the FRC in its enquiries. Audit quality is of paramount importance and we are committed to delivering high-quality audits," a PWC spokesperson said in an emailed statement to Reuters.
History of PWC and Digital 9 Infrastructure
PWC was Digital 9's external auditor since its listing on the London bourse in 2021, until the firm decided to wind down in early 2024 after a few years of poor returns and governance issues.
Digital 9's Response
Digital 9 did not immediately respond to a Reuters request for comment.
(Reporting by Prerna Bedi in Bengaluru, Editing by Harikrishnan Nair and Mrigank Dhaniwala)
Key Takeaways
- •The FRC’s enforcement division is investigating PwC’s audit of Digital 9 Infrastructure for FY 2023, reflecting heightened scrutiny of audit quality in the UK (frc.org.uk).
- •PwC pledged full cooperation and emphasized its commitment to audit quality; it had served as Digital 9’s external auditor since its London listing in 2021 (pwc.co.uk).
- •Digital 9 Infrastructure decided to wind down in early 2024 amid governance challenges and poor returns, underscoring corporate governance risks leading to regulatory scrutiny (portersfiveforce.com)
References
Frequently Asked Questions about UK accounting watchdog to probe PWC's audit of investment trust Digital 9
1Who is investigating the PWC audit of Digital 9 Infrastructure?
The Financial Reporting Council (FRC), Britain's accounting regulator, is investigating the audit.
2For which fiscal year is the PWC audit of Digital 9 being probed?
The probe covers the fiscal year ended December 2023.
3Why did Digital 9 Infrastructure decide to wind down?
Digital 9 decided to wind down in early 2024 due to poor returns and governance issues.
4Since when was PWC the external auditor for Digital 9 Infrastructure?
PWC was Digital 9 Infrastructure's external auditor since its listing on the London Stock Exchange in 2021.
5What is PWC's response to the FRC investigation?
PWC stated it will cooperate fully with the FRC and is committed to audit quality.
