They were accused of conspiring with executives of the US Foodservice, the US distribution subsidiary of Ahold, to create false accounts that inflated earnings by more than $800m, the Financial Times reported.
David Kelley, a member of President George W. Bush’s corporate fraud taskforce who announced the criminal charges, said: ‘Today’s charges should send a strong reminder to companies and executives across the country that it is not only a crime to falsify your own books, it is also a crime to help other companies falsify theirs.’
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.