PracticeAuditGreencore switches auditors after fraud

Greencore switches auditors after 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:

Read the RTE
story

PwC
faces probe over Greencore fraud

Related Articles

KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1w Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

3w Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

2m Alia Shoaib, Reporter
PwC pay gap review finds “no evidence of gender bias” at BBC

Audit PwC pay gap review finds “no evidence of gender bias” at BBC

3m Alia Shoaib, Reporter
Carillion collapse: FRC to investigate KPMG over audit work

Audit Carillion collapse: FRC to investigate KPMG over audit work

3m Alia Shoaib, Reporter
Former KPMG partners charged over PCAOB data leaks

Audit Former KPMG partners charged over PCAOB data leaks

3m Alia Shoaib, Reporter
PwC’s slapped with 2 year audit ban in India

Audit PwC’s slapped with 2 year audit ban in India

3m Alia Shoaib, Reporter
PwC found negligent by US judge over Colonial Bank's $2bn fraud

Audit PwC found negligent by US judge over Colonial Bank's $2bn fraud

4m Alia Shoaib, Reporter