With the series of accounting mistakes by Groupon recently, it is taking steps today in order to win back the confidence of investors and industry observers in it.

Daniel Henry, the Chief Financial Officer of American Express, along with Robert Bass, Deloitte Vice President, has been appointed as the new board member of Groupon.

As they will serve in the audit committee, they are both expected to put in their knowledge and experience in financial accounting and operational experience.

“With their deep financial, accounting and operational experience, Dan and Bob will provide invaluable expertise to the Board going forward,” Groupon’s Chairman, Eric Lefkofsky, said.

This has been the result after Groupon had been scrutinized regarding its accounting processes. It has been known that these errors could have been avoided had it only use business accounting software.

On April 26, Henry was appointed to office and replaced Howard Schultz, Chief Executive Officer of Starbucks Corp. Meanwhile, on June 19, Bass will stand for election during a shareholder meeting and will replace Kevin Efrusy who is a partner at Accel Partners.

“It’s a good thing to enhance the financial oversight, given that we just had a very quick restatement. You bring in two guys who appear to be experts in public-company financial accounting; that, you would think, is an upgrade. So, I think it’s a step in the right direction,” said Clayton Moran, an analyst at Benchmark Co.

In 2009, a UK branch of Groupon opened and is currently offering the best deals to its consumers through its website every single day.

Sadly, at the dawn of the news, a drop of over 10 percent on the Nasdaq was seen on Groupon’s shares.