Société Générale’s board of directors have hired PwC to assist a special
committee of independent directors, tasked with identifying the causes and size
of the bank’s trading losses.
The committee, which is to work closely with the bank’s audit committee, will
also assist with ensuring that measures are put in place to prevent another
similar incident, the Guardian reported.
The fraud, the largest to date, led to £3.7bn in losses for the bank, is now
the subject of a large-scale police investigation.
The committee is to report its findings, conclusions and recommendations
directly to the board of directors.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements