Jan 3, 2011 | Accounting Frauds
TUI Travel, has decided to say adieus to their auditors KPMG. The move comes soon after the company had to take a write-down of £117 million, forcing the company to restate their 2009 results. The company has decided to go ahead and replace the outgoing auditors with...Dec 20, 2010 | Accounting Frauds
The SEC issued two rules in September 2010, in order to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act). The rules affect the payment of bounties for revealing insider trading violations and requirements relating to audits...Nov 17, 2010 | Accounting Frauds
In February 2003, the Amsterdam based supermarket operator, Ahold announced that it had inflated earnings by atleast €391M ($500M) at its wholly owned US food service subsidiary. Apart from that the company also improperly consolidated revenues from joint ventures....Nov 17, 2010 | Accounting Frauds
In 2009, Silicon Valley technology company, VeriFone settled charges with the SEC concerning the company’s restatement of quarterly financials. In 2007, SEC alleged that the company had released materially false quarterly reports for the first, second and third fiscal...Nov 11, 2010 | Accounting Frauds
A recent report by Muddy Waters ,a small research firm , about RINO International Inc , a desulfurization and other environmental equipment provider to Chinese steel mills, is an interesting read. According to Muddy, RINO’s business is a complete sham. The...