It’s the blind leading the deaf because their current advisors are dumb…
Yes, I know that PwC can not help Ford with its divestiture plans for Jaguar. Since PwC is the external auditor to Ford, PwC is limited as to what else it can do. But given that it has presided over a significant restatement of their financial results and their continued losses in the billions, while still saying until forced that everything is totally fine, maybe they should resign and look at doing Ford’s M&A consulting instead? Their days as Ford’s auditors should be numbered.
Ford hires KPMG for Jaguar exit
“FORD has recruited the accountancy group KPMG to examine the books at Jaguar and Land Rover, two of Britain’s best-known car companies, ahead of an expected £1 billion sale later this year.
Despite mounting speculation in recent weeks, Ford has declined to confirm it will sell the famous marques. But the appointment of KPMG, which has been given a mandate to revamp the companies’ accounts so that they are in a proper form to be examined by would-be buyers, appears to make a sale inevitable.
KPMG’s main task will be giving a clear picture of Jaguar and Land Rover’s performance as businesses separate from the influence of Ford, which has owned them since 1989 and 2000 respectively…”