Greencore switches auditors after fraud
Irish food group switches auditor after uncovering €21m (£16.5m) fraud
Irish food group switches auditor after uncovering €21m (£16.5m) fraud
Irish food group Greencore has appointed KPMG as its new auditors following
the uncovering of a €21m (£16.5m) fraud.
An internal audit found that significant costs had been concealed at the
Irish group’s Scottish mineral water division. PricewaterhouseCoopers, the
previous auditor, was already facing a probe by the Institute of Chartered
Accountants of Ireland over its work at Greencore,
RTE reported.
The loss of the audit contract will be a new blow to the firm.
In addition to changing auditors, Greencore had been expected to seek legal
redress as well as the return of some of PwC’s huge audit fees. In the two-year
period of the fraud, PwC charged Greencore fees of more than €1.6m.
Further reading:
PwC
faces probe over Greencore fraud
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleKPMG was initially fined £30 million, but the penalty was subsequently decreased by 30% due to its cooperation throughout the five-year investigation ...
View articleAfter cooperating with the inquiry, the firms and partners received a reduction in fines Read More...
View articleThe FRC has said the admitted failings were "rudimentary and should not have occurred" Read More...
View articleKPMG's settlement of the £1.3bn legal claim highlights longstanding weaknesses in the audit sector, experts say Read More...
View articleThe big four auditor is being penalised for “conspiracy to corrupt and a failure to prevent bribery” Read More...
View articleThe sanctions relate to the firm’s audit of Conviviality PLC between 2017 and 2018 Read More...
View articleAudits for Eddie Stobart’s 2017 and 2018 accounts found errors dating back several years Read More...
View articleThe FRC has fined KPMG UK £700,000 and reprimanded KPMG UK’s former senior partner for Manchester, Nicola Quayle for a “failure to apply sufficient pr...
View article