International accounting

The founder of U.K. discount retailer Matalan Plc is suing PricewaterhouseCoopers over claims he lost as much as 135 million pounds ($165 million) by relying on advice the accounting firm gave him when he moved to Monaco 20 years ago.

China’s securities regulator blacklisted six executives for their role in a $4.2 billion accounting scandal at Kangmei Pharmaceutical Co., one of the country’s biggest drugmakers.

EY’s Dutch unit is asking its partners in the Netherlands to stump up funding to help it confront the blow to its business from COVID-19 measures.

The international group has published a roadmap that focuses on four main areas of change.

The U.K.’s Financial Reporting Council has opened an investigation into Ernst & Young LLP’s auditing of NMC Health Plc, the Middle Eastern hospital operator facing fraud allegations.

An independent audit into Wirecard AG concluded that it was unable to obtain the data needed to confirm past revenues, and criticized the payment processor for internal “shortcomings” and unwillingness by its third-party partners to contribute to the report.

The International Auditing and Assurance Standards Board has released an exposure draft of a standard for improving the quality of audits of group financial statements.

Chinese investigators raided the offices of Luckin Coffee Inc. as part of a multi-agency investigation into its finances, according to a person familiar with the matter, as pressure grows on the formerly high-flying coffee chain at the center of an accounting scandal.

When it comes to companies exposed to emerging markets — most notably China — investors should beware the lack of visibility into their books.

Tycoon OK Lim and his family are set to hand over management of the company founded in 1963 to PricewaterhouseCoopers LLP, deepening the demise of an empire Lim built into one of Singapore’s most powerful oil traders.

LEA Global, an international accounting firm association also known as the Leading Edge Alliance, has appointed Anthony Szczepaniak as its CEO.

As oil prices collapsed in the fallout from the coronavirus, Singapore-based Hin Leong's foundations crumbled.

Ernst & Young must pay $10.8 million to an auditor who blew the whistle on wrongdoing at a Dubai gold refiner in another black eye for the U.K. accounting industry.

China’s second accounting scandal in less than a week is underscoring concern over lax corporate governance at some of the country’s fastest-growing companies.

KPMG and one of its senior partners have been reprimanded and fined 455,000 pounds ($560,000) for failings in its audit of a U.K. company, the latest sanction against the Big Four auditor in recent years.

The two accounting associations have signed a letter of intent to merge, effective Sept. 1, 2020.

The Securities and Exchange Commission is giving “conditional” regulatory relief from certain filing obligations for public companies due to the outbreak.

The Association of Chartered Certified Accountants has released a paper examining the impact of the coronavirus, and how it is affecting economies around the world, including the U.S.

The number of countries reporting their financial positions on an accrual basis is expected to increase from 37 to 98 by 2023, according to a new report.

The first-ever revision of the International Integrated Reporting Framework for integrated reporting is now underway.