Accounting fraud

A lawsuit claims the executive siphoned hundreds of millions of dollars as the auto parts company doctored its accounts and promised the same collateral to different lenders.

The suspected cases of improper bookkeeping add to a scandal that's threatening the listing of the once-celebrated Japanese auto gear maker.

As we find ourselves eight months into the year, it's essential to take a moment to reflect on governance amid the hustle of deadlines and client demands.

The alleged accounting fraud overstated revenue of the data-insight company Near Intelligence before it was acquired in 2022 by about $25 million.

South Africa's case against executives in the biggest corporate fraud in the country's history has been pushed back to September.

With their critical eye and technical knowledge, accountants can interpret when a number doesn't match reality, anticipating failures before they become scandals.

The artificial intelligence company was facing legal scrutiny in the weeks before it went bust.

Judgments that are overly optimistic, unsupported, or poorly documented can tip into the territory of errors or fraud, leading to restatements and enforcement.

As the odds of a downturn climb, one expert warns that it may result in the uncovering of so-far undetected fraud schemes.

The department-store operator tied executives' cash bonuses to an earnings metric that turned out to be overstated by around $81 million in 2023.

The move comes after ADM adjusted years of financial results due to errors in the way it reported transactions between business units.

Carvana was accused by short-seller Hindenburg Research of impropriety in a report alleging the auto retailer's subprime loan portfolio carries substantial risk.

It's been almost a year since Archer-Daniels-Midland Co. disclosed a probe into its accounting practices that wiped out $12 billion.

The retailer said the incident involved only one former employee, who had hidden as much as $154 million of delivery expenses since 2021.

An employee "intentionally" made erroneous accounting accrual entries to hide about $132 million to $154 million of cumulative delivery expenses stretching over multiple years.

The move follows an accounting scandal that has wiped out billions of dollars in market value and drawn investigations by the DOJ and SEC.

The server maker has seen more than $50 billion of its market value wiped out over concerns about its accounting.

The resignation comes after Department of Justice launched a probe into an ex-employee's claims that Super Micro violated accounting rules.

The sofamaker agreed to pay $1.5 million to the SEC to settle allegations that two former executives devised a fraudulent accounting scheme to meet a key Wall Street metric.

Ben la Grange, whose official sentence is 10 years, won some leniency for cooperating with investigators.