Price Waterhouse Coopers said the trust "lacked transparency" in its reporting of the scale of cash problems.

BBC: St Michael's Hospital

In 2007, Price Waterhouse Coopers noted a counter intuitive relationship between profitability and sales revenue for publicly-traded fuel cell companies.

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Auditors Price Waterhouse Coopers will look at information supplied to the Ministry of Justice (MoJ) by the two companies during the tendering process and the department's management of the contract.

BBC: Serco and G4S face billing probe over electronic tagging

In fact, Price Waterhouse Coopers, in their Global Entertainment and Media Outlook report, projects that e-books will make up 50 percent of the U.S. trade book market by 2016.

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That is one reason why, over the past decade, Andersen, which used to be roughly the same size as both Coopers and Price Waterhouse, has pulled ahead of both.

ECONOMIST: Accounting

The two firms argue that they are a perfect fit: for instance, Coopers is strong in telecoms, Price Waterhouse in media and entertainment.

ECONOMIST: Accounting