Oct 18, 2017 | Accounting Frauds
The Financial Reporting Council fined Ernst & Young £1.8 million for their shoddy audit work of distributor Tech Data. This is what happened. In 2013, Tech Data revealed that there were material errors in their financials for 2011, 2012 and part of 2013. The...Oct 10, 2017 | Accounting Frauds
A few month’s ago UK’s Financial Reporting Council (FRC) levied the then largest ever penalty on PWC, for 5 Million Pounds, related to misconduct over its audit of Connaught Plc, a FTSE 250 company that went into administration in 2010. Now PWC is fined 5.1 Million...Dec 13, 2016 | Accounting Frauds
As the internal accounting probe of the sales numbers of Alexion Pharmaceuticals, Inc. nears completion, its CEO David Hallal and CFO Vikas Sinha have unexpectedly resigned. Mr. Hallal for personal reasons and Mr. Sinha to pursue other opportunities. Wonder what the...Nov 17, 2016 | Accounting Frauds
The fight between HP and Autonomy saw the former autonomy CFO, Sushovan Hussain, being charged with accounting fraud by a federal grand jury in the US. The charges against Hussain alleged that he made false and misleading statements about Autonomy’s finances, put...Nov 14, 2016 | Accounting Frauds
Weatherford International announced the sudden exit of it’s CEO Bernard Duroc- Danner. The move though sudden is not unexpected. Recently the company settled with SEC on deceptive accounting charges. The company had overstated its results to meet its earlier announced...