RSA scandal was 'isolated incident The independent investigation into the background to the £200m capital blackhole at RSA Group's Irish operations is expected to conclude that it was an isolated incident with no further write-downs needed. Accountancy firm PwC, which has been leading the probe, is due to say that the shortfall occurred despite strict group governance controls being in place. The scandal at the insurance group, which contributed to RSA delivering three profit warnings in six weeks in the run-up to Christmas, has already led to the resignation of group chief executive Simon Lee. Investors in RSA had been keen to establish whether there were any further write-downs to be taken, and what the implications for the wider group would be. But the report, due to be published on Thursday morning, is expected to draw a line under the problems in the Irish business, which first emerged in early November. It remains unclear quite what the report will say of the three executives who ran the Irish business, however, with legal advice still being sought by PwC and RSA this weekend. The trio were suspended in November, and one of the three, RSA Ireland chief executive Philip Smith, subsequently resigned. Irish police and the Central Bank of Ireland are investigating, but no formal action has been taken. RSA declined to comment.