Compaq said it had been asked by the US watchdog to name new accountants as a result of its crackdown on auditor independence, the Financial Times reported from the US today.
The firm may also be forced to drop another major client, Cisco, and potentially faces the embarrassment of having to stand aside while a rival firm repeats last year’s audit.
Both developments follow the publication of an SEC report last month which found that more than 8,000 instances of PwC staff and partners holding shares in audit clients, which contravenes its regulations.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.