The FT has shed a light on #KPMG’s double role in the #Wirecard scandal, outlining the controversial connection existing between the advisory company that last April revealed the Fintech fraud. This points out that #conflictsofinterest coupled with weak #corporategovernance, as well as complacency from the...
As a response to the fragmented environment of ESG reporting, the international community has begun taking its steps towards harmonization. After a joint vision has been shared by the five leading Framework and Standard-setting Institutions, also the Big Four Accounting Firms have recently disclosed a...
The interconnection between sound and the criminal economy is growing. We believe that a sound ESG Due Diligence can avoid it. This is why at SVI we offer our services to prevent reputational risks to investors and support a sound economy. According to an article published...
Wirecard’s share price has collapsed after the exposure of its fraud scheme. On Thursday, June 18th 2020, Wirecard’s auditor, EY, stated that, when carrying out its 2019 audit of the firm, it could not find $2 billion in the company’s accounts, funds that the German firm later...
https://www.wsj.com/articles/pwc-considers-changes-to-u-k-auditor-pay-to-avoid-conflicts-of-interest-11569609468Karthik Ramanna, a professor of business and public policy at the University of Oxford’s Blavatnik School of Government, in a report commissioned by PwC in June 2019, called for audit firms to resort to independent, external remuneration committees to advise on audit partners’ pay. He also also...
Britain’s accountancy regulator Financial Reporting Council (FRC) will start soon to investigate the collapse of Thomas Cook. The investigation would likely focus on two Big Four audit firms, EY and PwC, in order to clarify their position and understand whether they have some responsibilities. EY and PwC declined any comment. For...
Maggie Brereton and Ina Kjaer, former KPMG partners, launched their consulting firm, Eos Deal Advisory. The company has been named after the Greek goddess of the dawn. The two advisors left KPMG this February, as a form of protest to the response that the firm alleged...