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11 May 2009
Sandwich company Greencore claims that its former auditors PricewaterhouseCoopers should take responsibility for allegedly not spotting a €21m fraud in a mineral water subsidiary, the Telegraph reported.
Greencore is in talks with PwC to settle the matter. It removed PwC as auditor and appointed KPMG in August last year, two months after it discovered that the accounts in its Scottish Campsie spring water business had been manipulated.
The company took a €9m impairment charge in 2008 to account for the cost concealment, plus a further €12m in impairments in 2006 and 2007.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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