PwC has said that the $880m overstatement occurred between 1 April 2000 and December 2002. The company bought the American arm in 2000.
Results of the probe were presented by PwC to the Ahold audit committee yesterday.
To reach the huge figure Ahold overstated by $110m in 2000, $260m in 2001 and $510m in 2002. On top of this, the Big Four firm also discovered $90m of adjustments required to the opening balances at the date of its acquisition.
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