Category: Accounting software

Groupon is taking steps to win back confidence in it from investors and industry observers following a series of accounting mistakes.

The company has been hit by criticism in recent times over several financial errors - some of which could perhaps have been avoided with the use of accounting software. A UK branch of the organisation opened in 2009 and offers the best deals to consumers via its website on a daily basis.

Following the departures of Howard Schultz and Kevin Efrusy from the Groupon board last week, it has confirmed Daniel Henry and Robert Bass, of American Express and Deloitte respectively, as new members.

Both will serve on the firm's audit committee, which will be set up with the intention of avoiding any further costly mistakes that damage the brand's image.

In the wake of the news, Groupon's shares dropped by more than ten per cent on the Nasdaq.

Posted by Jamie Rees