Greencore unhappy with auditors PwC in Ireland

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.