Corporate Finance Accounting

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  • TOKYO, Sept 18- Japan's financial regulators are investigating an Ernst& Young affiliate over its audit of Toshiba Corp after a $1.3 billion accounting scandal at the industrial and electronics conglomerate, the auditing firm said on Friday. Ernst& Young ShinNihon LLC said the Financial Services Agency has been investigating staff involved with the audit of...

  • Bill George: Are corporate ethics sliding again? Tuesday, 15 Sep 2015 | 7:00 AM ET
    Jeff Smisek in May, 2015.

    Recent scandals at United and Toshiba are sending off a warning signal about corporate ethics, says former Medtronic CEO Bill George.

  • Sept 10- Wal-Mart Stores Inc said it found a "material weakness" in its controls over accounting for leases, which allowed for misapplication of accounting standards related to sale-leaseback transactions. In a quarterly regulatory filing on Wednesday, the company said it did not have sufficient controls in place to "properly identify and account for leases...

  • *Court: SEC notice not needed before suing under Dodd-Frank. By a 2-1 vote, the 2nd U.S. Circuit Court of Appeals in New York revived a lawsuit in which Daniel Berman, a former finance director at the NeozOgilvy unit of advertising company WPP Plc, claimed he was fired because he reported accounting irregularities to his superiors. Circuit Judge Jon Newman accepted...

  • In addition, the SEC charged two former chief executives of General Employment Enterprises, as well as its former chairman and majority shareholder, Stephen B. Pence, who is a former U.S. attorney and former lieutenant governor of Kentucky. Michael A. Valenti, an attorney for Pence, said the SEC's case represents a "strong arm tactic of the highest degree by the SEC"...

  • NEW YORK, Sept 8- Bankrate Inc agreed to pay $15 million to settle U.S. Securities and Exchange Commission charges that three former top finance officials engaged in accounting fraud to inflate results for the second quarter of 2012, the regulator said on Tuesday. Bankrate had revealed the SEC probe last September, when DiMaria's resignation as CFO was...

  • Toshiba embarks on 'long road of repair': TTS Monday, 7 Sep 2015 | 6:33 PM ET
    Toshiba embarks on 'long road of repair': TTS

    Robert Rostan, CFO and principal at Training The Street (TTS), says the near 2 percent rise in the stock on Monday suggests that the impact of the accounting probe is now behind Toshiba.

  • *Toshiba overstated profits by $1.3 bln going back to 2008/ 09. TOKYO, Sept 7- Japan's Toshiba Corp booked a net loss for the past financial year and pledged a bold restructuring, raising hopes it was finally moving beyond a $1.3 billion accounting scandal. Shares in Toshiba rose 1.8 percent on Monday, but they are still down around 30 percent since its accounting...

  • Toshiba decides no need for Westinghouse writedown Monday, 7 Sep 2015 | 4:30 AM ET

    Sept 7- Japan's Toshiba Corp said on Monday it had decided there was no need for a writedown on its Westinghouse operations after an accounting scandal raised concerns it was overestimating the value of its U.S. nuclear business. Toshiba looked into whether it needed to write down the value of Westinghouse's deferred tax assets, or credits that can be used to...

  • *Toshiba overstated profits by $1.3 bln going back to 2008/ 09. TOKYO, Sept 7- Japan's Toshiba Corp booked a net loss for the past financial year and pledged to improve governance with a revamped board of directors, raising hopes it was finally moving beyond a $1.3 billion accounting scandal. Shares in Toshiba jumped 4.9 percent by the end of morning trade, but they...

  • Secretary of the Commonwealth William Galvin said he has asked BNY Mellon and six of the largest fund companies affected how the technical glitch in fund accounting impacted individual investors. BNY Mellon roiled about 5 percent of the U.S. fund industry last month when one of the accounting systems it relies on to generate prices for mutual funds and...

  • Toshiba delayed announcing its annual financial results on Monday, as new accounting errors prevented the firm from drawing a line under a scandal.

  • *Toshiba again delays FY results, aims for Sept 7. *Toshiba was due to announce full-year results on Monday. TOKYO, Aug 31- Toshiba Corp again delayed announcing its annual financial results on Monday, as new accounting errors prevented the company from drawing a line under Japan's worst corporate scandal in four years.

  • Why Mitsubishi took a stake in troubled Olam Thursday, 27 Aug 2015 | 6:37 PM ET
    Why Mitsubishi took a 20% stake in troubled Olam

    Asia's largest commodity trader Olam has exposure to opportunities in frontier markets, which makes it attractive for players like Mitsubishi, explains Nirgunan Tiruchelvam, director of research at Religare Capital Markets.

  • Westfield: Very pleased with H1 results Tuesday, 25 Aug 2015 | 9:07 PM ET
    Westfield: Very pleased with H1 results

    Steven Lowy, co-CEO of Westfield, discusses the company's first-half earnings report and explains why concerns regarding Westfield's cashflow are incorrect.

  • Embattled trader Noble fights back, to limited effect Tuesday, 18 Aug 2015 | 3:47 AM ET
    A worker walks among coils of galvanized steel at a steel factory.

    After months of critics' attacks, Noble clocked a marathon presentation Monday, but it isn't clear the message went the distance.

  • Has Noble finally sailed clear of Iceberg attacks? Tuesday, 11 Aug 2015 | 12:27 AM ET

    Noble may see some light at the end of a months-long tunnel of attacks, with its stock surge after a report on its accounting suggesting a sentiment shift.

  • What's really hurting commodity trader Noble Group Monday, 10 Aug 2015 | 8:42 PM ET
    What's really hurting commodity trader Noble Group

    Roger Tan, CEO of Voyage Research, says the slump in the commodity sector is hurting Singapore-listed Noble Group more than its accounting and management practices.

  • Crunch time for under-fire Noble Group? Monday, 10 Aug 2015 | 2:18 AM ET

    Having endured months of slings and arrows from negative research reports, Noble's earnings later Monday will be squarely in its critics' sights.

  • China stock regulator restricts 24 trading accounts Thursday, 30 Jul 2015 | 9:50 PM ET
    An investor in front of an electronic board showing stock information at a brokerage house in Fuyang, China, July 28, 2015.

    China's securities regulator said on Friday that it had restricted 24 stock trading accounts for suspected trading irregularities.