Accounting fraud

The Four-Way Test shows GAAP-based financial reporting is unethical

A Houston-based company, FMC Technologies, has agreed to pay a $2.5 million penalty to resolve charges that it overstated profits in one of its business segments, the Securities and Exchange Commission said Thursday.

Three former Tesco Plc executives charged with accounting fraud will go on trial in September 2017.

Comedian Harry Shearer is suing the company that owns the rights to “This is Spinal Tap,” claiming that it has shortchanged the film’s creators through fraudulent accounting.

Big Four firm Ernst & Young has agreed to pay more than $11.8 million to the Securities and Exchange Commission for failing to detect fraud in its audits of an oil services company.

The Securities and Exchange Commission on Monday charged energy services provider Lime Energy Co. and four executives for their roles in accounting fraud.

An academic study demonstrates that earnings management is pervasive across U.S., European and Asian companies, whether they’re using U.S. GAAP or International Financial Reporting Standards.

The owner of a Houston-based business has pleaded guilty in a scheme that involved $13 million in false invoicing.

The oil and natural gas services company Weatherford International will pay a $140 million penalty to settle accounting fraud charges.

Three former Tesco Plc executives will plead not guilty to allegations of accounting fraud, their lawyers said as the men appeared in a London court for the first time since being charged.