According to court documents,, Malaysia’s 1Malaysia Development Berhad (1MDB) and the state government are seeking more than $5.6 billion in damages from KPMG partners for alleged negligence and breaches linked to a corruption scandal at the fund. The audit firm… Read More ›
On Tuesday, a group of investors are set to ask a French court to back its $1.2 billion (1 billion euros) claim in damages from Vivendi, alleging that the media giant made false financial statements during a merger deal twenty… Read More ›
In a statement, the U.S. Securities and Exchange Commission said, it has suspended two former KPMG auditors from practicing before the regulator after it found that they had failing to properly conduct an audit of the now-defunct, not-for-profit college that… Read More ›
Shares of Chinese drone maker EHang Holdings Ltd’s plunged on Tuesday following a report by an investment research firm which stated that it had shorted the stock and questioned the accuracy of its business reporting. Shares of Guangzhou, China-based EHang’s… Read More ›
On Thursday, Britain’s Financial Reporting Council (FRC) stated it has added an extra year to its investigation into EY’s audit of Thomas Cook. The holiday company had collapsed in September leaving tens of thousands of people stranded abroad. The FRC… Read More ›
This is not a routine change of financial auditors… In a development that will certainly raise eyebrows, according to a regulatory filing by Papa John’s International Inc, it has dismissed KPMG LLP as its financial auditor and has appointed Ernst… Read More ›
Coca Cola will now reclassify its financial statements from second quarter in 2019 to include CCBA as part of its continuing operations. It did not provide an explanation for the postponement of its re-franchising plans. In a development that marks… Read More ›
In the multi-year investigation, anitrust authorities in France have alleged that Electrolux along with other large white goods home appliance makers have collaborated to fix prices of their appliances. On Wednesday, Electrolux stated antitrust authorities in France are set to… Read More ›
The lawsuit states that the underwriters had failed to do their due diligence. A U.S. pension fund has sued Chinese courier ZTO Express and its underwriters alleging that the company has significantly hiked its profit margins to attract investors for… Read More ›
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