Having already launched a lawsuit against PwC, the auditors of insurance
giant American International Group,
Greenberg, the former company CEO, has now launched a legal action
against AIG’s management.
Greenberg was forced to step down as chief executive in March 2005, over
‘unnecessary and improper’ decisions involved in last year’s multi-billion
dollar accounting restatement.
In turn Greenberg is facing a shareholder lawsuit being led by AIG, which is
claiming billions of dollars in damages from him.
In his suit Greenberg claims the accounting decisions that were attacked in
the restatement were ‘known, recommended, and approved by AIG’s current board
and management – as well as by AIG’s internal and external auditors, lawyers and
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
Charles Tilley's departure from CIMA leaves the accounting world quieter, but his institute with an exciting foundation