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Corporate Finance Accounting

  • TurboTax parent's CEO: In the absence of tax reform, 'we'll do the job for Congress'

    Jim Cramer spoke with Intuit CEO Brad Smith, who clarified the misconception that tax simplification is bad for the TurboTax parent.

  • Brad Smith, president and chief executive officer of Intuit Inc.

    Jim Cramer spoke with Intuit CEO Brad Smith, who clarified the misconception that tax simplification is bad for the TurboTax parent.

  • HAMBURG, Aug 24- German prosecutors said they were investigating four current and former executives of South Africa's Steinhoff for suspected accounting fraud, allegations which sent the furniture retailer's shares plummeting on Thursday. Steinhoff denied any wrongdoing in response to allegations published in German monthly Manager Magazin which...

  • FRANKFURT, Aug 24- German prosecutors are investigating Steinhoff CEO Markus Jooste and some other senior managers at the furniture retailer in connection with suspected accounting fraud, monthly Manager Magazine reported, citing no sources. Steinhoff's German-listed shares dropped to a record low and were down 7.4 percent to 3.92 euros at 1126 GMT.

  • FRANKFURT, Aug 24- German prosecutors are investigating Steinhoff CEO Markus Jooste and some other senior managers at the furniture retailer in connection with suspected accounting fraud, monthly Manager Magazine reported, citing no sources. Steinhoff's German-listed shares dropped to a record low and were down 5.7 percent to 3.99 euros at 0812 GMT.

  • LONDON, Aug 16- Britain's accounting watchdog has fined audit firm PricewaterhouseCoopers LLP a record 5.1 million pounds and given it a severe reprimand after it admitted misconduct when auditing collapsed accounting firm RSM Tenon. The Financial Reporting Council said PwC and senior audit partner Nicholas Boden admitted a series of failures when they...

  • TOKYO, Aug 10- Cash-strapped Toshiba Corp has staved off delisting after its accounting won auditor approval, albeit with a stern rebuke, leaving its listed status largely dependent on whether it can complete the stalled sale of its chip business by March. "It's cleared the first hurdle," said Makoto Kikuchi, chief executive at Myojo Asset Management.

  • TOKYO, Aug 10- Toshiba Corp's auditor gave an "adverse opinion" on the company's internal controls in an annual report filed on Thursday, showing the Japanese industrial conglomerate has a way to go before regaining the market's trust following a 2015 accounting scandal.

  • *PwC hasn't endorsed Toshiba's books since June 2016 appointment. TOKYO, Aug 7- Toshiba Corp may gain a partial endorsement from its auditor for its annual financial results after disagreements over accounting for the much of the year, Japanese media reported- a step that would lessen, but not remove, the risk of a delisting. For Toshiba, which was demoted to the...

  • HONG KONG, Aug 7- Short sellers are increasingly targeting Hong Kong- listed Chinese companies they allege have committed accounting tricks, market manipulation and fraud. Short sellers said increasing capital flows between mainland China and Hong Kong, spurred by Beijings recent moves to open up its equity markets, were exacerbating corporate governance...

  • *Will cut 3,000 jobs by 2020 in latest cost-savings plan. LONDON, Aug 4- British education group Pearson is cutting 3,000 jobs and slashing its dividend in its latest attempt to revive a business hit by the shift to digital from paper textbooks. The job losses, accounting for almost 10 percent of the group total, are part of Chief Executive John Fallon's third...

  • WASHINGTON, Aug 2- Accounting company PricewaterhouseCoopers LLP will pay $1 million to settle a civil complaint alleging it conducted a flawed audit into Merrill Lynch's compliance with federal brokerage customer protection rules, U.S. audit watchdogs said on Wednesday. The PCAOB's penalty against PwC comes a little over a year after the Securities and...

  • WASHINGTON, Aug 2- Accounting company PricewaterhouseCoopers LLP will pay $1 million to settle a civil complaint alleging it conducted a flawed audit into Merrill Lynch's compliance with federal brokerage customer protection rules, U.S. audit watchdogs said on Wednesday. The PCAOB's penalty against PwC comes a little over a year after the Securities and...

  • WASHINGTON, July 27- Oil company Halliburton Co will pay $29.2 million to settle civil charges it violated federal anti-bribery rules related to books, record-keeping and internal accounting controls while doing business in Angola, U.S. regulators said on Thursday. The Securities and Exchange Commission said Halliburton's former vice president, Jeannot...

  • WASHINGTON, July 27- Oil giant Halliburton Co will pay $29.2 million to settle civil charges it violated federal anti-bribery rules related to books, record-keeping and internal accounting controls while doing business in Angola, U.S. regulators said Thursday. The Securities and Exchange Commission said Halliburton's former vice president, Jeannot...

  • KIEV, July 20- Ukraine's central bank said on Thursday it had withdrawn the right to formally audit the country's banks from the Ukrainian unit of the international accounting firm PwC. PwC Ukraine had audited the largest Ukrainian bank, PrivatBank, which Ukraine took over in December after risky lending practices left it with a capital shortfall of more than...

  • China should quicken the pace to eliminate restrictions on foreign capital in areas such as baby products, elderly care, architecture design, accounting, auditing, logistics, and e-commerce, Xi told the Communist Party's financial and economic leading group in a regular meeting, as reported by state radio. Xi said China should create a new basic law governing...

  • JOHANNESBURG, July 12- South African state-run transport and logistics company Transnet said on Wednesday it had suspended senior officials after external auditors flagged "reportable irregularities" to their regulatory body. Transnet's admission comes a day after power utility Eskom said its auditors had raised similar issues with the Independent...

  • SAO PAULO, July 12- Brazil's securities industry watchdog CVM has reversed a preliminary decision ordering state-controlled Petróleo Brasileiro SA to restate financial statements in recent years to include the impact of currency protection on debt and other balance sheet items. Petrobras announced changes in the accounting of so-called currency...

  • MILAN, July 5- The U.S. accounting watchdog is investigating accounting firm PricewaterhouseCoopers's audits of British telecoms group BT's Italian business, which has been hit by a book-keeping scandal, a source close to the matter said. The PwC audit of the Italian business is coming under increasing scrutiny worldwide after a similar investigation...