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.» Read More
The most obvious pothole on the road to reparation is mark-to-market valuation; and it remains a mystery to me as to why this less than two-year old accounting rule remains the most ignored portion of debate.
The head of Stanford Financial Group charged with orchestrating an $8 billion fraud tried Tuesday to get a one-way flight out of the country, a source told CNBC.
The attorney for former Enron CEO Jeffrey Skilling says he will appeal to the U.S. Supreme Court, now that an appellate court has denied his request to re-hear the case.
The heads of the Fed and Treasury are signaling that they plan to take more steps to ease credit and jump-start the economy.
Carmen and Tracy Coenen, a forensic CPA with Sequence Inc., explain how the alternative minimum tax -- which was originally designed in the 70s to tax those who were considered wealthy by the standards of those days but now squeezes the middle class -- has been patched in the bailout bill passed today.
Why is New York moving to regulate a complicated part of the derivative market? Because no one else was keeping an eye on it, says the state's insurance chief.
Three more more financial firms, including Merrill Lynch and Goldman Sachs, reached settlements over the sale of auction-rate securities, a $330 billion market that collapsed in February.
Merrill Lynch CEO John Thain met with New York Attorney General Andrew Cuomo on Thursday in an attempt to reach a settlement of the auction-rate securities probe, CNBC has learned.
Merrill Lynch reached a settlement with Massachusetts over auction-rate securities, the latest in a string a accords between regulators and Wall Street firms over the $330 billion market that collapsed in February
Merrill Lynch has until Friday to settle an auction-rate securities case with New York Attorney General Andrew Cuomo's office or it will face a lawsuit, Cuomo warned during a CNBC interview.
New York attorney general Andrew Cuomo is preparing to file civil securities-fraud charges against UBS, possibly as early as this week, the Wall Street Journal said on Wednesday.
U.S. securities regulators are boosting efforts to stop the spread of false rumors that threaten financial institutions, after a week that saw steep slides in the shares of Fannie Mae, Freddie Mac and Lehman Brothers.
As cities and states struggle with ballooning retirement costs, accounting rule makers started an ambitious project Thursday to force state and local governments to issue better numbers and reveal the true cost of their pension promises.
The indictment of two Bear Stearns hedge fund managers for securities fraud is expected to be announced later on Thursday in connection with a fund tied to the subprime lending market, CNBC has learned.
Corrupt officials are raking off a sum equivalent to one third of Russia's annual budget, or $120 billion, a senior prosecutor was quoted as saying on Friday.
A former Credit Suisse investment banker convicted of leaking inside information about pending mergers was sentenced to 10 years in prison by a federal judge Friday.
John F. Marshall spent decades teaching at business schools and watching his students parlay his lessons into fortunes on Wall Street. But when he and another professor reached for some of those riches themselves, events took a startling turn, the authorities say.
The school bus and truck company is about to get a whole lot more expensive. Cramer wouldn't wait too long to buy this one.
The White House said that President Bush would not veto a final bill from Congress that orders a halt to filling the Strategic Petroleum Reserve while oil prices are very high.
Federal prosecutors in New York have formed a task force together with other government agencies to examine the collapse of the market for risky home loans, a spokesman for the U.S. Attorney's Office in Brooklyn said Monday.