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Corporate Finance Accounting

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  • Toshiba scandal puts focus on Japan's cut-price audits Wednesday, 29 Jul 2015 | 8:50 PM ET

    Toshiba's scandal has raised questions about whether low fees paid by companies to auditors mean they do not spend enough time scrutinizing accounts.

  • HONG KONG, July 30- Toshiba Corp's years-long practice of inflating its profits has raised questions among accounting experts about whether low fees paid by Japan- listed companies to their auditors mean they do not spend enough time scrutinizing company accounts. Toshiba chief executive Hisao Tanaka and a string of other senior officials resigned last...

  • LONDON, July 29- Asking outside auditors to vouch for the accuracy of a bank's key measure of health could help restore investor trust in the sector, a London- based accounting body said on Wednesday. The Institute of Chartered Accountants in England and Wales kicked off a public consultation on how accountants could check on bank capital ratios, a measure of...

  • July 29- Thomson Reuters Corp on Wednesday reported a 2 percent rise in quarterly revenue, excluding currency effects, helped by its Legal and Tax& Accounting businesses. The news and information company said second-quarter net earnings were $281 million, or 33 cents per share, compared with $260 million, or 31 cents per share, a year ago. Adjusted for special items,...

  • Mentoring woman in the workplace: KPMG CEO Friday, 24 Jul 2015 | 7:37 AM ET
    Mentoring woman in the workplace: KPMG CEO

    Lynne Doughtie, KPMG U.S. chairman & CEO, shares her thoughts on promoting women in the c-suite.

  • Keeping up with changing technology: KPMG CEO Friday, 24 Jul 2015 | 7:35 AM ET
    Keeping up with changing technology: KPMG CEO

    Lynne Doughtie, KPMG U.S. chairman & CEO, discusses how changing technology is impacting the way KPMG serves their clients.

  • TOKYO, July 23- The former chairman of Toshiba Corp's audit committee plans to step down from his role on a government accounting panel, a source familiar with the matter said on Thursday, in the latest fallout from the book-keeping scandal at the Japanese industrial conglomerate. Makoto Kubo resigned this week from his job as a director and chairman of the audit...

  • SAO PAULO— Brazilian President Dilma Rousseff has been given until the end of Wednesday to provide the Federal Audit Court with her written explanation for alleged irregularities in accounting methods her government used in 2014.. They then go to Congress, which can decide whether to approve the administration's finances for the previous year.

  • Attacks on Noble accounting take their toll Wednesday, 22 Jul 2015 | 12:47 AM ET
    Richard Elman, chief executive officer of Noble Group.

    How Noble reports profits on long-term commodity deals has become the center of a fierce battle between the trading house and its critics. The Financial Times reports.

  • The resignation of nine Toshiba executives, including the CEO, for doctoring books places the company beside the growing rogues' gallery of corporate desperados. The Houston company set a new standard for creative accounting practices. Tyco's CEO Dennis Kozlowski became the singular image of excess on Wall Street, throwing a $2 million birthday party for his...

  • Toshiba chiefs quit over $1.2B accounting scandal Tuesday, 21 Jul 2015 | 8:21 AM ET

    Chief executive and vice-chairman resign in the wake of an independent report on the company's accounting scandal. But the stock has surged.

  • UPDATE 4-Toshiba CEO quits over accounting scandal Tuesday, 21 Jul 2015 | 7:41 AM ET

    *Toshiba shares rise 6 pct in relief rally. TOKYO, July 21- Toshiba Corp's chief executive Hisao Tanaka and a string of other senior officials resigned on Tuesday for their roles in the country's biggest accounting scandal in years. Muromachi is considered a safe pair of hands to lead Toshiba through its current turmoil before handing the reins to a successor.

  • TOKYO, July 20- Toshiba Corp overstated its operating profit by 151.8 billion yen over several years in "institutional" accounting irregularities involving top management, an independent committee said in a report on Monday. Toshiba Chief Executive Hisao Tanaka and his predecessor, Vice Chairman Norio Sasaki, were aware of the overstatements of profits and...

  • TOKYO, July 20- A probe into an accounting scandal at Toshiba Corp is expected to find that top management were responsible for failures on a company-wide scale, setting the stage for a board overhaul, results restatements and potentially hefty fines. That would be more than three times Toshiba's initial estimate. Such numbers would significantly dent...

  • TOKYO, July 18- Japan's financial watchdog plans to seek a financial penalty on Toshiba Corp, currently being investigated by an independent committee over accounting irregularities, the Nikkei reported on Saturday. An SESC spokesman declined to comment, while Toshiba officials were not immediately available for comment. Toshiba expects to take up to $3...

  • TOKYO, July 16- Toshiba Corp expects 300- 400 billion yen in charges related to improper accounting in an expanding probe that is set to force Chief Executive Hisao Tanaka to step down, sources familiar with the matter said on Wednesday. That's more than triple Toshiba's initial estimate of around 50 billion yen. A Toshiba spokesman said it has not yet compiled any...

  • *Expects to book 300- 400 bln yen in charges. TOKYO, July 15- Toshiba Corp expects 300- 400 billion yen in charges related to improper accounting in an expanding probe that is set to force Chief Executive Hisao Tanaka to step down, sources familiar with the matter said on Wednesday. That's more than triple Toshiba's initial estimate of around 50 billion yen.

  • TOKYO, July 15- Toshiba Corp expects to book charges of 300 billion to 400 billion yen related to improper accounting, people briefed on the matter said on Wednesday, as Japan's biggest accounting scandal in years expands. Toshiba has been unable to close its books for the latest business year due to the scandal, and suspended its year-end dividend payout.

  • July 15- Toshiba Corp Chief Executive Hisao Tanaka will step down in September along with other board members including Vice Chairman Norio Sasaki to take responsibility for accounting irregularities, sources familiar with the matter said. That's more than triple Toshiba's initial estimate of around 50 billion yen. Toshiba's shares have slumped around 27...

  • UPDATE 1-Toshiba CEO to step down in September -sources Tuesday, 14 Jul 2015 | 10:29 PM ET

    July 15- Toshiba Corp Chief Executive Hisao Tanaka will step down in September along with other board members including Vice Chairman Norio Sasaki to take responsibility for accounting irregularities, sources familiar with the matter said. A Toshiba spokeswoman said the company had not yet made any decision on the matter and was waiting for the third-party...