PricewaterhouseCoopers is likely to qualify Northern Rock’s accounts for
2007, it has emerged.
Daily Mail reports today that the Big Four firm has still not agreed to sign
off the 2007 accounts, and is likely to qualify on the basis that it cannot be
sure there are no more skeletons in the cupboard.
The paper reports that the firm is involved in wrangles with the bank over
possible writedowns. The bank is set to write off large amounts, but the firm is
said to be pushing for larger provisions – perhaps for more than £500m.
The discussions are set to go on for several weeks, the paper adds.
Simon Wright of CareersinAudit.com discusses how an effective cyber defence force is critical to businesses worldwide and how internal auditors can make the transition to a new career in cyber security
The FRC has said that the investigation will 'consider, but not be restricted to, issues regarding misstated accounting balances'
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February