Please ensure Javascript is enabled for purposes of website accessibility

Accounting News Roundup: British American Tobacco Stubs Out PwC; Genworth’s Material Weakness; Unreported Fraud | 03.03.15

BAT sues PwC over historic pollution liabilities in the US [FT]
British American Tobacco let PwC go as its auditor due to its ongoing dispute with Windward Prospects, another PwC audit client. BAT's continued litigation finally snagged PwC as it involves the audits of Windward's 2008 and 2009 financial statements. PwC plans to "vigorously defend" themselves, naturally.

Britain’s Elite Still Enjoying a Tax Break 100 Years Old [NYT
All anyone seeking to become a "non-domiciled" Briton needs to prove is that Dad was born outside the country and that they plan to move back to that place before they die.  

Genworth spots "material weakness" in controls over accounting [Reuters]
The MW led to the company missing a $44 million after-tax calculation error. 

Most Internal Fraud Still Swept Under the Rug [CFO]
No one wants the bad publicity.

DEA warns of stoned rabbits if Utah passes medical marijuana [WaPo]
So says Special Agent Matt Fairbanks who is part of Utah's "marijuana eradication" team.

You can get free pancakes at IHOP today [USAT]
Apparently NPD is a BFD.

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

a dog wearing VR

Monday Morning Accounting News Brief: Deloitte on Microtransactions; More EY Split Roadblocks; Have You Become Irritable? | 11.28.22

Happy Monday! Here’s some stuff that’s going on. Several US audit firms told the Financial Times that they had elevated some or all of their crypto-related clients to the status of “high risk”, triggering a more thorough audit that will take longer and lead to higher bills; some clients could ultimately be dropped altogether. KPMG […]

woman working on a laptop with a dog beside her

Monday Morning Accounting News Brief: The Leadership Void; KPMG Gets Fined (Again); PwC Ups Leave | 10.3.22

Deloitte launches Global Sustainability & Climate learning program that aims to enhance skills and capabilities of Deloitte people to help address a global societal challenge. Dubai’s financial regulator has provisionally fined KPMG and one of its former partners $2 million over the firm’s auditing of Abraaj, the emerging markets private equity group that collapsed in […]