Accounting
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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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HONG KONG, Jan 24- A Chinese mining equipment company at the centre of an alleged accounting fraud was also involved in a web of insider loans and asset transfers prior to its purchase by Caterpillar Inc., public filings show.
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LONDON, Jan 21- The European Union's markets watchdog has told companies and their accountants they will be named publicly if they fail to write down goodwill impairments properly in their latest results.
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*Fast Retailing heavily weighted, accounting 1/ 3 of gains. Top-weighted gainer Fast Retailing Co rose 4.2 percent after the operator of casual clothing chain Uniqlo raised its earnings guidance for the business year ending August. percent to 10,780.45 after rising as high as 1.7 percent to 10,830.43, the highest level since February 2011.
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WASHINGTON, Jan 9- U.S. securities regulators on Wednesday filed civil charges against two auditors at accounting giant KPMG, alleging they failed to properly scrutinize the books of a Nebraska bank that collapsed under the weight of loan losses during the financial crisis.
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*China economic data eyed later this week. LONDON, Jan 8- Copper dipped on Tuesday as worries over corporate earnings and fiscal problems in the United States began to outweigh supportive economic signals from China and some signs Europe's economy may be stabilising. China is the world's biggest copper consumer, accounting for 40 percent of refined demand.
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Stone was one of eight former board members of Morgan Keegan, now an affiliate of Raymond James Financial Inc, who were charged earlier this month by the SEC with failing to oversee managers who inaccurately priced mortgage-backed assets ahead of the 2007-2009 financial crisis. 1/ 8 ID nL1E8NA3QE 3/ 8.
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*US judge in Los Angeles orders Chan Ming Fon held. Los Angeles Dec 21- A former Singapore banker accused of helping "liquidate" hundreds of millions of dollars in an accounting fraud at Japan's Olympus Corp was ordered to face charges in New York after he was arrested in Los Angeles on Thursday.
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WASHINGTON, Dec 21- Mary Stone has resigned from her post as a trustee of the Financial Accounting Foundation, the board which governs the panel that sets U.S. accounting standards, the FAF said Friday.
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*Chan Ming Fon to appear in court on Friday. SINGAPORE/ NEW YORK, Dec 21- A former Singapore banker was arrested in Los Angeles on Thursday and accused of helping "liquidate" hundreds of millions of dollars in an accounting fraud at Olympus Corp, one of the biggest corporate scandals in Japan's history.
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*Chan Ming Fon to appear in U.S. federal court on Friday. Dec 20- A former Singapore banker was arrested in Los Angeles on Thursday and accused of helping "liquidate" hundreds of millions of dollars in the Olympus Corp accounting scandal, one of the biggest corporate frauds in Japan's history.
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*Chan Ming Fon arrested in Los Angeles, to appear in US federal court. Dec 20- Banker Chan Ming Fon was arrested in Los Angeles on Thursday and accused of helping "liquidate" hundreds of millions of dollars in the Olympus Corp accounting scandal, one of the worst corporate frauds in Japan's history.
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The Libor scandal could cost Fannie & Freddie up to $3 billion. Rep. Barney Frank (D-MA) explains how and why he wants to change the way we prosecute those who commit financial crimes.
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The scandal at Autonomy has some accountants wondering about the wisdom of new, global standards in the pipeline.
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*Detailed U.S. revenue accounting rules going away. *Change is part of effort to meld US, international rules. NEW YORK, Dec 12- The scandal at Autonomy, a UK software group bought last year by Hewlett-Packard Co, has some accountants wondering about the wisdom of new, global standards in the pipeline that would change how companies account for revenue.
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CNBC's Jon Fortt reports on Google's legal offshore tax shelters. Will the tax strategy hurt the brand? With Benjamin Schachter, Macquarie Securities, and David Callahan, Demos Public Policy Center.
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How much will the fiscal cliff impact you, and how can you minimize damage to your finances? Here are questions financial advisers are sifting through with clients.
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Diamond Foods Inc reported a higher-than-expected fourth-quarter profit on Friday, excluding costs related to an accounting probe and earnings restatement.
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Dec 7- Diamond Foods Inc reported a higher-than-expected fourth-quarter profit on Friday, excluding costs related to an accounting probe and earnings restatement. On a net basis, the maker of Emerald nuts and Kettle chips posted a loss of $32.9 million, or $1.52 per share, in the three months ended July 31.
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*U.S.- China accounting dispute threatens to escalate. SINGAPORE/ NEW YORK, Dec 7- A dispute between U.S. and Chinese regulators over access to corporate audit documents is casting a lengthening shadow over U.S. stock markets, with some major U.S. firms now concerned that they could be drawn into a potential accounting crisis.
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NEW YORK, Dec 5- The former chief accountant of the U.S. Securities and Exchange Commission is rejoining Deloitte LLP as the Big Four audit firm confronts increased regulatory scrutiny. Deloitte, under pressure from regulators in the United States and abroad, may also hire a former head of Britain's financial watchdog, a source told Reuters on Tuesday.