Citigroup has made an
for dominant Japanese brokerage Nikko Cordial – which was hit with an accounting
scandal in December – for £5.5bn, which is one-and-a-half times book value.
Late last year,
Cordial was handed a record fine by the Financial Services Agency for
The offer, if successful, will be the largest foreign takeover of a Japanese
company, the FT reported.
The company invited Citigroup to make the offer. An executive disclosed that
under the terms of its joint venture, it was difficult for anyone else to
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'
Craig Maxwell joins the audit and assurance team in Scotland
Stephen Grayson to join the audit department in Manchester