The surprisingly strongly worded assault came in legal papers filed in a New York court, following the company being ordered to pay a record $10m to settle SEC charges, although it did not admit guilt.
The ‘accounting tricks’ helped Xerox overstate revenue by $3bn and increase earnings by £1.5bn between 1997 and 2000.
News of the verbal attack came after KPMG had stated it was ‘bewildered’ at the threat of civil charges over its audit of the company.
And according to reports, KPMG US partner Michael Conway, has received notice he is being investigated as part of the probe into the company.
Xerox replaced KPMG, which had been its auditor for three decades, with PricewaterhouseCoopers in September last year.
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