MPs slam Northern Rock accountants

MPs today launched a stinging attack on Northern Rock’s accountants for failing to spot funding problems at the crisis-hit bank and making nearly £2m (€2.8m) in fees from advising the lender.

PricewaterhouseCoopers (PWC) faced calls to repay the £1.8m (€2.5m) it charged Northern Rock for consultancy and auditing fees in a bruising Treasury Select Committee hearing.