Oct 9, 2012 | Accounting Frauds
A recent study done by researchers at the University of Arkansas and the University of Missouri shows the effect of having different accounting standards in different countries on mergers and acquisitions. The lack of same or similar standards is a deterrent for...Oct 2, 2012 | Accounting Frauds
A recent state audit of the books of the city of Evansville, Indiana, reveals poor bookeeping and accounting done by the city in 2011. The issue was not of embezzlement or cooking the books but more of incorrect recording of entries. The city implemented a...Sep 25, 2012 | Accounting Frauds
The former controller of New Mexico Finance Authority that provides low-cost financing for capital projects by cities, counties, schools and New Mexico governmental organizations came under scrutiny when he was indicted on securities fraud and forgery charges. The...Sep 25, 2012 | Accounting Frauds, Accounting Globalization
After numerous Chinese firms getting delisted from the stock exchanges around the world or not filing their financials with SEC or their auditors resigning, and the Chinese authorities not allowing any non- Chinese regulators to conduct inspections on Chinese soil,...Sep 6, 2012 | Accounting Frauds
Phoenix IT Group, a cloud computing services provider, recently disclosed that following reorganization in the finance group the company found errors in the accounting of its Servo division. The value of the net assets were understated by approximately £14m (~$22m)...Sep 6, 2012 | Accounting Frauds
The Cayman Track Limited, a governmental authority that runs the horseracing tracks in Jamaica, has come under the radar for its improper accounting practices. An audit was commissioned by the Ministry of Finance to look into the reasoning behind the entity getting...