Sep 6, 2012 | Accounting Frauds
The Cayman Track Limited, a governmental authority that runs the horseracing tracks in Jamaica, has come under the radar for its improper accounting practices. An audit was commissioned by the Ministry of Finance to look into the reasoning behind the entity getting...Sep 6, 2012 | Accounting Frauds
The 2011 annul report of Kingfisher Airlines is a must read, especially the auditor’s report. The auditor’s, B.K. Ramadhyani & Co., have raised number of questions, disagreed with the way the company has accounted for multiple items in their books and also under...Aug 28, 2012 | Accounting Frauds
The audit committee of Diamond Foods Inc, the maker of Emerald nuts and Pop Secret found in February 2012, that the company will have to restate its 2010 and 2011 financial statements due to improper accounting for the payments to walnut growers. The payment to walnut...Aug 12, 2012 | Accounting Frauds
In February 2012, Saitama District Court in Japan, sentenced both the president and executive director of FOI Corp, the machinery maker to three years in prison. The sentencing was due to the involvement of the officers in falsifying the financial statements of the...Aug 2, 2012 | Accounting Frauds
Oki Electric Industry, the maker of ATMs, telecommunications equipment and printers, suspended its Managing Director of its Spanish printer making entity Oki Systems Ibérica S.A.U. amid accounting probe. The MD allegedly overstated the Spanish unit’s accounts...