Accounting
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CENTENNIAL, Colo.-- Penford Corp. said Wednesday that it found accounting errors in its financial statements for the first two fiscal quarters of 2013 and the past three fiscal years, leading to a restatement of its results for those periods.
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Scott London spoke to CNBC's Jane Wells about the KPMG insider trading scheme and how much he made in kickbacks. London says "nothing like this has ever happened before."
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The U.S. Attorney says Scott London will plead guilty to 1 count of securities fraud through insider trading, reports CNBC's Jane Wells.
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Scott London spoke to CNBC's Jane Wells about the KPMG insider trading scheme and how much he made in kickbacks. London says "nothing like this has ever happened before."
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*Germany wants limited audit switching, if at all. LONDON, May 29- Plans to inject more competition into accounting should be watered down, European Union states said on Wednesday, signalling less than initially expected will be done to undermine the dominance of the sector's "Big Four" audit firms.
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*Watchdog eyeing audits of "letterbox" firms in UK. LONDON, May 29- Accountants still fail to question banks properly over how they make provisions for poorly performing loans on their books, Britain's auditing policeman said on Wednesday.
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*Watchdog eyeing audits of "letterbox" firms in UK. LONDON, May 29- Accountants still fail to question banks properly over how they make provisions for poorly performing loans on their books, Britain's auditing policeman said on Wednesday.
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The U.S. Attorney for the Southern District of New York has charged Liberty Reserve with $6 billion in a money laundering scheme, reports CNBC's Courtney Reagan.
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May 23- The U.S. regulator of corporate auditors said on Thursday that the U.S. arm of global accounting firm Ernst& Young failed to fix quality control problems found in earlier reviews. The report from the Public Company Accounting Oversight Board is a blow for the firm, which markets itself as a global leader in audit quality.
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Bryan Shaw plead guilty to conspiring to commit securities fraud in the KPMG case, reports CNBC's Jane Wells.
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May 17- Caterpillar Inc has reached a deal to cut $135 million from the price owed for a Chinese mining equipment maker, after accounting irregularities were discovered at the acquired company that forced Caterpillar to take a $580 million impairment charge.
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By Huw Jones and Dena Aubin. LONDON/ NEW YORK, May 16- Company balance sheets could swell by trillions of dollars under an international plan issued on Thursday by two accounting bodies to show more clearly the cost of leasing everything from photocopiers to property.
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The jeweler who allegedly made more than $1 million thanks to stock tips from his buddy at KPMG appeared in court today, with CNBC's Jane Wells.
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May 7- Mortgage finance company Fannie Mae and accounting firm KPMG have agreed to pay $153 million to settle a shareholder lawsuit filed by Ohio pension funds and others accusing the companies of issuing false and misleading financial reports, the Ohio attorney general said on Tuesday.
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May 7- Mortgage finance company Fannie Mae and accounting firm KPMG have agreed to pay $153 million to settle a shareholder lawsuit filed by Ohio pension funds and others accusing the companies of issuing false and misleading financial reports, the Ohio attorney general said on Tuesday.
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Hard-pressed company bosses across much of the world are under so much pressure to deliver on growth that many have resorted to cooking the books, Ernst & Young says in its latest Fraud Survey.
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CNBC's Jackie DeAngelis reports Bryan Shaw plead guilty to receiving stock tips in the KPMG case, and President Obama is predicting the U.S. will become a net exporter of gas by 2020 according to the FT.
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One in five of almost 3,500 staff quizzed in 36 countries in Europe, the Middle East, Africa and India said they had seen financial manipulation in their companies in the last 12 months, the accounting and consultancy firm said.
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*Overhaul meant to shine light on lease-related liabilities. NEW YORK/ LONDON, May 2- Corporations may have to shoulder trillions of dollars of new balance-sheet liabilities under an accounting change for leases that is meeting stiff resistance from businesses in a test of international accounting standard-setters' resolve.
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April 26- Las Vegas Sands Corp, the casino company, said on Friday that accounting firm PricewaterhouseCoopers will not stand for re-election as the company's auditor, ending a 25- year relationship with Sands founder and chairman Sheldon Adelson.
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PricewaterhouseCoopers will no longer audit Las Vegas Sands, reports CNBC's Jane Wells. Las Vegas Sands makes it clear there is no dispute between the 2 companies.
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No reason has been given yet for the departure of founder and executive chairman George Zimmer, reports CNBC's Courtney Reagan. Zimmer has long been the face of the company.
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