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Accounting

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  • *Cayman Islands, Bermuda common sites of shell companies. "Many large, U.S.-based multinational corporations avoid paying U.S. taxes by using accounting tricks to make profits made in America appear to be generated in offshore tax havens- countries with minimal or no taxes," said Citizens for Tax Justice and U.S. Public Interest Research Group.

  • *Cayman Islands, Bermuda common sites of shell companies. "Many large, U.S.-based multinational corporations avoid paying U.S. taxes by using accounting tricks to make profits made in America appear to be generated in offshore tax havens- countries with minimal or no taxes," said Citizens for Tax Justice and U.S. Public Interest Research Group.

  • "Many large, U.S.-based multinational corporations avoid paying U.S. taxes by using accounting tricks to make profits made in America appear to be generated in offshore tax havens- countries with minimal or no taxes," said Citizens for Tax Justice and the U.S. Public Interest Research Group.

  • News of the settlement talks comes just a few months after a Securities and Exchange Commission Administrative Law Judge handed down a harsh 112- page ruling that chastised the firms for failing to share audit work that SEC investigators believe could help them uncover accounting fraud.

  • Regulators: Deficiencies in 28% of Deloitte audits Monday, 2 Jun 2014 | 7:06 PM ET

    A regulator discovered deficiencies in 15 out of 53 Deloitte & Touche audits it examined, according to the Wall Street Journal.

  • SINGAPORE, May 29- Singapore- listed companies will adopt a new financial reporting framework similar to the International Financial Reporting Standards in 2018, an accounting body and the city state's stock exchange said on Thursday.

  • UPDATE 1-UK accounting watchdog warns over bank audits Wednesday, 28 May 2014 | 7:23 AM ET

    LONDON, May 28- Accountants who check the books of Britain's banks must sharpen their act or could be ordered to take corrective measures, the sector's watchdog said in a report showing how a core lesson from the financial crisis has yet to be applied.

  • Ex-Deloitte casino auditor settles gaming charges Tuesday, 20 May 2014 | 5:57 PM ET

    A former chief risk officer for Deloitte & Touche agreed to settle civil charges on Tuesday alleging he violated rules governing auditor independence.

  • White did not elaborate on what the SEC has been finding, or what defines "emerging financial fraud." In addition, last July the SEC unveiled its new financial reporting and audit task force, which is headed by David Woodcock, an attorney and accountant who heads the SEC's Fort Worth, Texas, office.

  • *29- year KPMG veteran sentenced in Los Angeles. April 24- Former KPMG LLP senior partner Scott London, who had provided tips to a friend about the accounting firm's clients, was sentenced to 14 months in prison on an insider trading charge by a federal judge in Los Angeles on Thursday.

  • LONDON, April 17- Investors would be able to make a more accurate assessment of how well banks manage risks on their books under proposals published by the International Accounting Standards Board on Thursday.

  • WASHINGTON, April 10- Public company and bank audits conducted around the globe by units affiliated with the world's six largest accounting firms are persistently riddled with flaws, a group of international regulators have found.

  • Audits around the world are riddled with problems -survey Thursday, 10 Apr 2014 | 10:00 AM ET

    WASHINGTON, April 10- Public company and bank audits conducted around the globe by units affiliated with the world's six largest accounting firms are persistently riddled with flaws, a group of international regulators have found.

  • MOSCOW, April 2- Russia's government may allow state-controlled companies to cut their dividend payments by calculating them according to Russian accounting standards rather than international standards to help weather an economic downturn, Vedomosti reported on Wednesday.

  • Dewey& LeBoeuf's former chairman Steven Davis, 60, executive director Stephen DiCarmine, 57, chief financial officer Joel Sanders, 55, and client relations manager Zachary Warren, 29, were all criminally charged March 6 for the alleged use of accounting gimmicks and fraud to cheat banks and investors in a failed attempt to keep the law firm alive.

  • Ex-Dewey finance director admits accounting was false Thursday, 27 Mar 2014 | 4:02 PM ET

    Dewey& LeBoeuf's former chairman Steven Davis, 60, executive director Stephen DiCarmine, 57, chief financial officer Joel Sanders, 55, and client relations manager Zachary Warren, 29, were all criminally charged March 6 for the alleged use of accounting gimmicks and fraud to cheat banks and investors in a failed attempt to keep the law firm alive.

  • Here's what keeps CEOs up at night     Tuesday, 18 Mar 2014 | 7:54 AM ET

    John Veihmeyer, KPMG Chairman & CEO, discusses the challenges ahead as businesses grapple with new regulations.

  • WASHINGTON, March 17- A top U.S. audit regulator is sounding the alarm over what she fears may be a false stamp of approval that some accounting firms are using as they market themselves to potential clients.

  • WASHINGTON, March 17- A top U.S. audit regulator is sounding the alarm over what she fears may be a false stamp of approval that some accounting firms are using as they market themselves to potential clients.

  • NEW YORK, March 2- The U.S. Securities and Exchange Commission is investigating Citigroup for accounting fraud after it disclosed bogus loans in its Mexican Banamex unit, a source familiar with the investigation said. The securities regulator is also examining whether Citigroup violated the Foreign Corrupt Practices Act, the source said.