Seattle-based financial services company agrees to pay a $500,000 penalty to settle charges with the Securities and Exchange Commission that it improperly performed hedge accounting and later took steps to impede potential whistleblowers.
General Motors is paying a $1 million penalty to settle charges from the Securities and Exchange Commission that deficient internal controls kept it from properly assessing the potential impact on its financial statements of a defective ignition switch found in some vehicles.
Professor of accounting and chair of the School of BusinessMount Saint Mary College
Accounting students have the arduous task of learning how to prepare and analyze financial reports. Like other users of financial data, they may wonder if the numbers alone are enough to evaluate a firm.