September 10, 2012, 11:19 AM

Groupon hires a KPMG exec as its chief accounting officer

Brian Stevens will report to the daily deal operator’s chief financial officer.

Lead Photo

Brian Stevens

Groupon Inc. today named accounting and consulting firm KPMG LLP executive Brian Stevens chief accounting officer, effective immediately.

Stevens will report to Jason Child, the daily deal operator’s chief financial officer.

Stevens worked at KPMG LLC for 16 years. His most recent position was as an audit partner, which he had held since 2007.

Groupon has faced scrutiny over its books ever since it announced plans to go public in June 2011. The daily deal operator revised its statements several times prior to going public. And in March, just months after it began trading, Groupon had to restate its earnings after underestimating the reserves required to handle refunds for high-priced items like a three-course tasting menu at a tony restaurant. The company’s auditors, Ernst & Young LLP, also found that the company had a material weakness in its internal controls, which means the internal controls Groupon has in place to prevent financial statement irregularities were ineffective.

Joe Del Preto, who previously held the position of chief accounting officer, will remain at Groupon in the role of vice president and global controller. He’ll report to Stevens.

comments powered by Disqus




From IR Blogs


Don Davis / E-Commerce

Is China still an online opportunity for Western brands?

On the ground, China’s economy looks quite strong. And Chinese consumers crave Western goods.


Barry Shteiman / E-Commerce

Three things all retailers need to know in the data breach age

Hackers often use stolen credentials to break into networks. There are tools that can spot ...