AIG, the world’s biggest insurer, admitted at the weekend that discrepancies in its accounts would reduce its book value by $2.7bn (£1.4bn).
Transactions were misrepresented at the insurer, AIG said, through ‘material weaknesses’ in its control systems.
The shares moved up 5%, however, on Monday, and analysts were apparently relieved that the problems had not been as bad as expected.
PwC, the group’s auditor, is to issue an ‘adverse opinion’ on AIG’s controls, the insurer also said.
UK senior partner Phil Verity has been elected for a second term at Mazars
An audit partner has been appointed at Grant Thornton in its North West offices
KPMG has been appointed with “immediate” effect as the auditor of Dorcaster
The audit for Ibstock will be taken over by Deloitte following a competitive tender process