PwC is now expected to face a heavy fine over its role in the client asset scandal which could have wrought unnecessary mayhem had the bank collapsed at the height of the financial crisis in October 2008.

FORBES: MF Global : 99 Problems And Auditor PwC Warned About None

The case centred on Lloyds' acquisition of Halifax Bank of Scotland at the height of the 2008 financial crisis.

BBC: Lloyds Banking Group wins ?3.5m charity appeal

Bank of America merged with investment bank Merrill Lynch at the height of the financial crisis and, afterwards, experienced heavy losses.

BBC: Bank of America pays $2.4bn to settle Merrill Lynch lawsuit