PricewaterhouseCoopers has won the audit contract for Xerox, the photocopier group, from rival KPMG. The replacement was filed at the US Securities and Exchange Commission this week. Xerox has denied any disagreement with its former auditors despite an ongoing investigation at the SEC over accounts signed off by KPMG.
In June KPMG certified Xerox accounts after the company admitted it had wrongly applied accounting rules and had to restate its financial accounts for the last three years.
– For more on the SEC, go to www.sec.gov.
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