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December 3, 2022

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.

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