Page 13 - Patisserie Valerie Teaching Note

Case Rationale

This case study, Patisserie Holdings plc, is a teaching case

providing some help and interpretation of the information

provided. It explores a complex situation covering the fraud

and collapse of Patisserie Holdings and the roles played by

the entrepreneur and Chairman of Patisserie Holdings, its

Chief Financial Officer and the auditors who claimed their

role and function was not to detect fraud. The House of

Commons committee, the Business, Energy and Industrial

Strategy committee (BEIS), challenged this view as did other

auditing firms in the industry and the perception of what the

function of auditors is.