The UK Financial Reporting Council (FRC) has closed its investigation into PwC UK's conduct in the audit of UK house builder Berkeley Group Holdings for the year ended 30 April 2012.
In a statement the FRC said the investigation was closed and no further action will be taken.
A PwC UK spokesperson said: "We cooperated fully with the FRC in its investigation and are pleased that, having investigated the matter, the FRC has closed it without any action."
The investigation was launched in September 2013 as a result of a former PwC partner, Glyn Barker, joining the board of Berkeley Group Holdings.
Barker had been appointed non-executive director of Berkeley Group Holdings in January 2012 after a 35 years career at PwC.
The FRC was investigating whether Barker had played any part in PwC's audit of Berkeley Group Holding prior to joining the house builder company.
PwC UK had been Berkeley Group's auditor since 1984, but the company changed to KPMG shortly after the investigation was launch in the autumn of last year.
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UK FRC