08-13-2006, 08:41 AM
Industry focus
Former Japan accountants found guilty...
10 August 2006
Three former accountants who worked for PricewaterhouseCoopers (PwC) have been found guilty of lying as part of a conspiracy.
The three accountants worked for PwC's Japanese operation, ChuoAoyama, and the trio were accused of being involved in a conspiracy with executives at former client, Kanebo.
ChuoAoyama has since had its auditing licence suspended following the scandal with the cosmetics firm, although PwC has set up a new firm in Japan following that suspension.
Kuniaki Sato, Kazutoshi Kanda and Seiichiro Tokumi were all given prison sentences of at least 12 months for their part in the affair, although the sentences have been suspended for three years.
Speaking following the court's decision, presiding judge Harumitsu Mori commented "The crime significantly eroded the public trust in the auditing system and accountants. It is shameful that they have failed to realize the high professional morality as certified accountants."
Former Japan accountants found guilty...
10 August 2006
Three former accountants who worked for PricewaterhouseCoopers (PwC) have been found guilty of lying as part of a conspiracy.
The three accountants worked for PwC's Japanese operation, ChuoAoyama, and the trio were accused of being involved in a conspiracy with executives at former client, Kanebo.
ChuoAoyama has since had its auditing licence suspended following the scandal with the cosmetics firm, although PwC has set up a new firm in Japan following that suspension.
Kuniaki Sato, Kazutoshi Kanda and Seiichiro Tokumi were all given prison sentences of at least 12 months for their part in the affair, although the sentences have been suspended for three years.
Speaking following the court's decision, presiding judge Harumitsu Mori commented "The crime significantly eroded the public trust in the auditing system and accountants. It is shameful that they have failed to realize the high professional morality as certified accountants."