And the bit of PwC in the UK that remained attached to PWC's overseas network would still have a massive advantage over competitors, because PWC's British-based multinational clients - the likes of Barclays, Tesco and BT - would presumably stick with the international network able to audit all their subsidiaries and branches, rather than employing a British firm without global capability.

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This means the social network has passed an audit on protecting user data, and could enter the traditional payments industry alongside credit card companies.

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The penalties include prohibiting PW India from accepting any new US listed companies as audit clients for six months, whether directly or via referral from PwC network firms.

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