PwC and the board of Cadbury Nigeria are being sued by more than 300
shareholders, who are also demanding access to a financial review carried out by
Shareholders claim they ‘suffered a huge loss’ as a result of the
overstatement of Cadbury Nigeria’s financial position and that the defendants
failed to act in their interest.
In December last year, Cadbury said it had discovered ‘a significant and
deliberate overstatement of Cadbury Nigeria results, which had existed over a
number of years’ after increasing its stake in the business from 46.4% to 50.02%
Neither Cadbury Schweppes nor PwC would comment.
UK senior partner Phil Verity has been elected for a second term at Mazars
An audit partner has been appointed at Grant Thornton in its North West offices
KPMG has been appointed with “immediate” effect as the auditor of Dorcaster
The audit for Ibstock will be taken over by Deloitte following a competitive tender process