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Corporate Finance Accounting

  • Apple chief executive Tim Cook visits an Apple store in Glasgow.

    American companies are enjoying latitude on what must be revealed about cash and securities holdings, Financial Times reports.

  • BOSTON, Sept 28- Alere Inc has agreed to pay more than $13 million to resolve charges the diagnostic testing firm committed accounting fraud and made improper payments to foreign officials, the U.S. Securities and Exchange Commission said on Thursday. The company said it cooperated with the SEC and was pleased to resolve the investigation.

  • JOHANNESBURG, Sept 22- South African law enforcement agencies should investigate KPMG after the global auditor sacked its top management over work done for business friends of President Jacob Zuma, Finance Minister Malusi Gigaba said on Friday. The global auditor is the latest international firm to become embroiled in factional battles within South...

  • JOHANNESBURG, Sept 22- A South African business lobby group suspended KPMG from membership on Friday, citing the "gravity" of its conduct over the auditor's work for business friends of President Jacob Zuma. The firm is already being investigated by the country's Independent Regulatory Board of Auditors for its work for the Gupta firms. Meanwhile South...

  • JOHANNESBURG, Sept 22- Steinhoff said it had presented its arguments to a Dutch court and was certain a petition made by a former joint venture partner, seeking a probe into the South African group's accounts, would be dismissed within the next two months. The firm, also under scrutiny for alleged accounting fraud in Germany, has previously said that legal and...

  • *Broker Sasfin cites "well-publicised concerns". JOHANNESBURG, Sept 19- A South African broker and an energy investment firm fired KPMG on Tuesday, two of a number of local firms weighing whether to ditch the auditor to distance themselves from a scandal involving business friends of President Jacob Zuma. Sasfin and Hulisani, both relatively small financial...

  • *Broker Sasfin cites "well-publicized concerns". JOHANNESBURG, Sept 19- A South African broker and an energy investment firm fired KPMG on Tuesday, two of a host of local firms weighing whether to ditch the auditor to distance themselves from a scandal involving business friends of President Jacob Zuma. Sasfin and Hulisani, both relatively small financial...

  • JOHANNESBURG, Sept 19- South African brokerage house Sasfin Holdings on Tuesday fired KPMG as its auditor, citing "well-publicised concerns" about the accounting firm struggling to keep clients after flaws in its work for friends of President Jacob Zuma. KPMG cleared out its South African leadership en masse on Friday after it found that work done for firms...

  • LONDON, Sept 14- Companies should produce more concise and crisper financial statements and annual reports, cutting out unnecessary "boilerplate" and "data dump" material, a global accounting body said on Thursday. The International Accounting Standards Board published guidance to encourage more selective judgements about relevant information in such...

  • ZURICH, Sept 12- Investigators in Zurich, ranked among the world's cleanest cities, are probing alleged grubby dealings within the municipal garbage and recycling department. But so far Zurich has unearthed irregular accounting surrounding some $15 million in cost overruns on one of its marquee projects, possible nepotism and an alleged off-the-books...

  • *2016 operating profit cut to 335 mln stg vs 481 mln. EDINBURGH, Sept 7- British business services company Capita, looking for a new CEO after a series of profit warnings, slashed its 2016 earnings by almost a third on Thursday after adopting new accounting standards, sending its battered stock sharply lower. At 0810 GMT, Capita shares were down 3.5 percent at 621...

  • EDINBURGH, Sept 7- British business services company Capita, which is looking for a new CEO after a series of profit warnings, lowered its underlying operating profit for 2016 on Thursday after adopting new accounting standards. "We believe early adoption of IFRS 15 is a sensible step to take in this transitional year for Capita," Finance Director Nick Greatorex...

  • EDINBURGH, Sept 7- British outsourcer Capita, looking for a new CEO after a series of profit warnings, lowered its 2016 underlying operating profit on Thursday after adopting new accounting standards. Capita restated its 2016 operating profit to 335 million pounds, from a previous 481 million pounds. It also reported net liabilities of 553 million pounds,...

  • LONDON, Sept 4- The trial of three former senior executives at Tesco accused of fraud and false accounting was adjourned on Monday until Sept. 25. Christopher Bush, who was managing director of Tesco UK, Carl Rogberg, who was UK finance director, and John Scouler, who was UK food commercial director, are all charged with one count of fraud by abuse of position and one...

  • LONDON, Sept 3- Three former senior executives of Tesco accused of fraud and false accounting at Britain's biggest retailer are due to go on trial on Monday in a London court. Christopher Bush, who was managing director of Tesco UK, Carl Rogberg, who was UK finance director, and John Scouler, who was UK food commercial director, are all charged with one count of fraud by...

  • LONDON, Sept 3- Three former senior executives of Tesco accused of fraud and false accounting at Britain's biggest retailer are due to go on trial on Monday in a London court. Christopher Bush, who was managing director of Tesco UK, Carl Rogberg, who was UK finance director, and John Scouler, who was UK food commercial director, are all charged with one count of fraud by...

  • LONDON, Sept 3- Three former senior executives of Tesco accused of fraud and false accounting at Britain's biggest retailer are due to go on trial on Monday in a London court. Christopher Bush, who was managing director of Tesco UK, Carl Rogberg, who was UK finance director, and John Scouler, who was UK food commercial director, are all charged with one count of fraud by...

  • LONDON, Sept 3- Three former senior executives of Tesco accused of fraud and false accounting at Britain's biggest retailer are due to go on trial on Monday in a London court. Christopher Bush, who was managing director of Tesco UK, Carl Rogberg, who was UK finance director, and John Scouler, who was UK food commercial director, are all charged with one count of fraud by...

  • LONDON, Sept 3- Three former senior executives of Tesco accused of fraud and false accounting at Britain's biggest retailer are due to go on trial on Monday in a London court. Christopher Bush, who was managing director of Tesco UK, Carl Rogberg, who was UK finance director, and John Scouler, who was UK food commercial director, are all charged with one count of fraud by...

  • Aug 29- Britain's financial watchdog has launched an investigation into Mitie over its 2015-16 results and the timing of a September 2016 profit warning, adding to problems at the outsourcing company as it tries to revive its fortunes. Last month, Britain's accounting watchdog said it was investigating Deloitte over its auditing of Mitie's books.