Nov 2, 2020 | Accounting Frauds
Raytheon Technologies Corp.’s financial accounting is being investigated by the U.S Department of Justice (DOJ)in a criminal probe! The company has received a criminal subpoena seeking information and documents related to financial accounting, internal controls...Oct 28, 2020 | Accounting Frauds
The Securities and Exchange Commission accused SAExploration Holdings (SAE) of perpetrating a $100 million accounting fraud that involved routing payments through shell companies so it appeared to be legitimate revenue. According to the complaint, the former CEO and...Sep 27, 2020 | Accounting Frauds
The SEC announced that Herbalife Nutrition has agreed to pay $67 million to settle charges it violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA). A director at SEC said that the company’s...Sep 23, 2020 | Accounting Frauds, General
When it rains it pours! Aurora Cannabis announced earlier in the month that the company was going to have over $1.8 billion in write downs in their fourth quarter and full year financial statements. They announced in a quite press release that the company had...Sep 3, 2020 | Accounting Frauds, General, News
Super Micro Computer, Inc concluded their settlement with the United States Securities and Exchange Commission (SEC), resolving an investigation into the Company’s financial accounting and disclosures for fiscal years 2014-2017. The company has already corrected for...Sep 3, 2020 | Accounting Frauds, Accounting Topics, General, News
The Wirecard fraud has cost EY a new customer! Deutsche Bank’s asset-management division, DWS, that went public in 2018 has decided to no longer use EY as its auditor. The reason being that DWS is concerned about getting involved in the potential lawsuits against the...