Corporate Finance Accounting

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  • TOKYO, Dec 15- A Japanese regulatory board recommended punishing an Ernst& Young affiliate after its audit of Toshiba Corp failed to spot Japan's worst accounting scandal in four years. The Certified Public Accountants and Auditing Oversight Board, a regulatory panel within Japan's Financial Services Agency, said it had found Ernst& Young ShinNihon LLC's...

  • TOKYO, Dec 14- A Japanese regulatory board will recommend punishing an Ernst& Young affiliate, a person familiar with the process said on Monday, after its audit of Toshiba Corp failed to spot Japan's worst accounting scandal in four years. Ernst& Young ShinNihon LLC said last week the Financial Services Agency was investigating its staff involved with the audit...

  • WASHINGTON, Dec 9- The U.S. Securities and Exchange Commission is concerned that financial auditors are not living up to the requirements of securities laws, Chair Mary Jo White told a meeting of certified public accountants on Wednesday. Earlier this month, audit firm Grant Thornton LLP and two of its partners agreed to settle SEC charges that they ignored red...

  • Marvell had said it has been contacted by the Securities and Exchange Commission and the U.S. Attorney's Office regarding the probe. Marvell's accounting and legal troubles may have kept away potential suitors at a time of record consolidation in the semiconductor sector. Marvell estimated revenue of $674.1 million for the third quarter ended Oct. 31, a 27.5...

  • NEW YORK, Dec 7- For Noble Group, a decades-old commodities firm whose founder started out in scrap metal yards, 2015 has been an unusually scrappy year. The Hong Kong- based group, Asia's largest merchant trader of raw goods, has seen its earnings and stock price hurt by plunging metals values and a report that questioned its bookkeeping. "It has been a very good year,...

  • NEW YORK, Nov 25- Tesco Plc has agreed to pay $12 million to settle a U.S. shareholder lawsuit claiming that accounting irregularities inflated the share price of Britain's largest retailer. The all-cash settlement was disclosed in filings on Wednesday in the U.S. District Court in Manhattan, and requires court approval. Wednesday's settlement covers...

  • Vipshop's numbers don't add up: Fichthorn Friday, 13 Nov 2015 | 12:30 PM ET
    Vipshop's numbers don't add up: Fichthorn

    Vipshop pre-reported ugly earnings, and the stock fell 26 percent. John Fichthorn, Dialectic Capital co-founder and portfolio manager, discusses Vipshop Holdings' accounting.

  • *Toshiba suing 5 former execs for $2.44 mln. TOKYO, Nov 12- Toshiba Corp's lawsuit against former executives linked to a $1.3 billion accounting scandal is a defensive manoeuvre that highlights a lack of sincere reform, lawyers and corporate governance experts said. The 300 million yen in damages Toshiba is seeking pales in comparison with the over $7 billion...

  • Toshiba sues three ex-CEOs over $1.3B scandal Saturday, 7 Nov 2015 | 3:42 AM ET

    Toshiba said it has sued five former executives over a $1.3 billion accounting scandal, and the company reported a quarterly operating loss.

  • Vatican inspectors suspect money laundering Wednesday, 4 Nov 2015 | 3:58 AM ET
    Saint Peter's Square in Vatican and aerial view of the city.

    Vatican financial investigators suspect a department of the Holy See was used in the past for possible money laundering.

  • Nov 3- "FarmVille" game maker Zynga Inc said Chief Financial Officer David Lee was stepping down and Chief Accounting Officer Michelle Quejado was taking over as interim CFO. Zynga also said it would delay the launch of the "Dawn of Titans" and "CSR2" games to 2016 from the fourth quarter planned earlier. Founder Mark Pincus, who returned as chief executive this year,...

  • "Farmville" creator Zynga's CFO steps down Tuesday, 3 Nov 2015 | 4:08 PM ET

    Nov 3- "FarmVille" game maker Zynga Inc said Chief Financial Officer David Lee was stepping down and Chief Accounting Officer Michelle Quejado was taking over as interim CFO. Lee, who joined Zynga from Best Buy Co Inc in April last year, will leave the gaming company in December. However, Zynga forecast bookings of $165 million- $180 million for the current quarter,...

  • *APSA was seen as more secretive than Vatican bank. VATICAN CITY, Nov 3- Vatican financial investigators suspect a department of the Holy See which oversees real estate and investments was used in the past for possible money laundering, insider trading and market manipulation, according to a report seen by Reuters. APSA, a sort of general accounting office,...

  • *APSA was seen as more secretive than Vatican bank. VATICAN CITY, Nov 3- Vatican financial investigators suspect a department of the Holy See which oversees real estate and investments was used in the past for possible money laundering, insider trading and market manipulation, according to a report seen by Reuters. APSA, a sort of general accounting office,...

  • *IBM to buy back additional $4 billion in shares. SAN FRANCISCO, Oct 27- The U.S. Securities and Exchange Commission is investigating how the International Business Machines Corp recognized revenue for certain deals in the United States, Britain and Ireland, IBM said on Tuesday, news that sent its shares down 4 percent. IBM, the world's largest technology services...

  • Oct 27- St. Joe Co and five individuals, including a former chief executive officer, agreed to settle U.S. regulatory charges the Florida developer and landowner improperly accounted for the falling value of its residential real estate assets after the financial crisis. The civil settlement announced by the U.S. Securities and Exchange Commission on Tuesday...

  • MADRID, Oct 26- Mexico's stock market regulator is studying possible sanctions against a unit of Spanish construction group OHL after video recordings released earlier this year purportedly showed executives discussing overcharging on a government contract. According to OHL, CNBV said the company's Mexican unit did not follow proper accounting and...

  • Valeant investor call underway Monday, 26 Oct 2015 | 8:31 AM ET
    Valeant investor call underway

    CNBC's Meg Tirrell, reports the latest details from Valeant's investor call where the CEO addressed allegations from Citron and its relationship with Philidor.

  • Valeant... people are starting to ask questions: Sonnenfeld

    Jeffrey Sonnenfeld, Yale School of Management, and CNBC's Meg Tirrell, discuss Valeant's "extremely strange" business strategy.

  • Valeant: Complete confidence in CEO Pearson Monday, 26 Oct 2015 | 6:36 AM ET
    Valeant: Complete confidence in CEO Pearson

    Jeffrey Sonnenfeld, Yale School of Management, and CNBC's Meg Tirrell, discuss Valeant's decision to appoint a committee to review allegations of accounting compliance.