Bernie Ebbers, the former WorldCom chief executive currently on trial charged with organising an $11bn fraud at the company, has said he had no idea that the FD Scott Sullivan was manipulating the accounts.
On the witness stand yesterday, Ebbers said he could not believe it when the fraud came to light.
Taking a stand has been a controversial decision for the Ebbers camp. US lawyers usually avoid allowing their clients taking the stand for tactical reasons.
Ebbers told the court in Manhattan that he did not know accounting and finance, but was more sales and marketing focussed.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.