Adecco’s results were published yesterday after twice being delayed due to the discovery of accounting irregularities and a black hole of £30m in the company’s North American operations.
The reported ‘material weaknesses in internal controls’ sent the company’s share price tumbling and cost two senior executives, including former chief financial officer Felix Weber, their jobs.
The company said that E&Y will now produce an unqualified audit report on the 2003 accounts, but the work has cost them €100m. Only €6m will be charged to the 2003 accounts, with the rest being absorbed into the current year’s figures.
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
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If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day