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Unilever Turns Spotlight on Conflict of Interest at PricewaterhouseCoopers.
Knight Ridder/Tribune Business News, February, 2002
By Ruth Sunderland, Daily Mail, London Knight Ridder/Tribune Business News
Feb. 2--Consumer goods giant Unilever has stirred up the row over conflicts of interest at accountancy firms in the wake of the Enron scandal.
Chairman Niall FitzGerald said he will review the position of the group's external auditors.
PricewaterhouseCoopers audits Unilever's accounts and also earns lucrative consultancy fees from the company. PwC had no involvement at Enron but the debacle has caused increasing concern over accountancy firms carrying out audit and consultancy for the same client.
Enrom's collapse has prompted PwC to hasten the divorce of its audit and consultancy arms. The firm plans formally to start the flotation process by...
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