KPMG

Two senior executives at Botswana supermarket chain Choppies Enterprises Ltd. are suing former auditors PwC for 653 million rand ($40 million) for not signing off on the company’s 2018 accounts, which led to a share price collapse.

Disclosures in financial statements and SEC filings about the current and potential impacts of COVID-19 are a major concern.

KPMG is already starting to use the new standards to improve audit quality globally.

The Big Four accounting firms have developed a set of metrics for companies to use for environmental, social and governance reporting internationally.

KfW, Germany’s third-largest bank by assets, may drop Ernst & Young as auditor as EY continues to be plagued by its role in the country’s Wirecard accounting scandal.

Prager Metis launches Latin entertainment group; KPM CPAs hires six; and more CPA news.

The COVID-19 pandemic has firms and their clients looking at data analytics and forecasting differently.

A student team from the Indian Institute of Technology won the annual competition that tackles real-world business issues with AI and emerging technology-based tools.

SobelCo appoints first COO; Plante Moran adds 25 partners; and more CPA news.

The Big Four firm announced it will provide a range of tax services to HP Inc. in 60 countries.

Here are some lessons learned from the 2018 tax year compliance season.

The dominant accounting firms must do a better job of challenging their clients in order to reach a satisfactory level of audit quality, the industry’s U.K. watchdog said.

KPMG appointed new leaders in the U.S. of its audit, tax and advisory businesses as the Big Four firm tries to regain trust after a bruising series of scandals.

ConvergenceCoaching launches annual “Anytime, Anywhere Work” survey; Mazars USA names chief people officer, chief marketing officer; and more CPA news.

Wirecard auditors say ‘elaborate’ fraud led to missing billions

Wirecard AG’s former chief executive officer was detained by Munich prosecutors after 1.9 billion euros ($2.1 billion) went missing from the digital-payment company, in a scandal that has rattled Germany’s financial industry.

Wirecard suffered one of the worst stock slumps in the history of Germany’s benchmark index after revealing that about 1.9 billion euros ($2.1 billion) in cash has gone missing, spooking investors who have endured years of allegations of wrongdoing at the payments company.

The firm admitted shortcomings in three years of work for a client, which had to restate its distributable reserves twice.

EY was sued over its work for the payment company, just two days after Wirecard’s headquarters were raided as part of a market manipulation probe.

Firms, state CPA societies and national accounting organizations are addressing the wave of international outrage and demonstrations sparked by the killing last week of George Floyd, an unarmed African American, by four Minneapolis police officers.