International accounting

The firm said the fine should be just a fraction of that size, at 1.4 million pounds.

One of China’s largest listed drug makers said related parties used the firm’s funds to trade its shares, a day after the securities regulator alleged financial data had been fabricated.

The global retailer at the center of South Africa’s biggest corporate scandal cut the value of its assets because of accounting irregularities.

The United Kingdom’s Financial Reporting Council has fined KPMG’s U.K. firm £5 million (discounted through a settlement to £4 million, or about $5.2 million) for its fiscal year 2009 audits of the Co-operative Bank.

The United Kingdom’s Financial Reporting Council also 'severely reprimanded' the firm, as well as two partners.

One of China’s largest listed drugmakers said it overstated cash holdings by $4.4 billion, sending its shares and bonds tumbling.

The Institute of Internal Auditors reported a milestone Monday, with membership numbers now topping 200,000.

Deloitte LLP said it resigned as Ferrexpo Plc’s auditor over delays by the Ukrainian iron-ore producer in investigating its own charitable donations.

The United Kingdom’s Competition and Markets Authority has issued a long-awaited report calling for separation of audit from consulting services, mandatory “joint audits” and regulatory powers to increase the accountability of audit committees.

South Korean auditors are refusing to sign off on more and more corporate financial statements due to tighter regulations, giving investors earlier warning signs of trouble ahead.

Denmark has reported the local operations of Ernst & Young and KPMG to the police amid a widening crackdown on money laundering in the country.

Firms should be forced to legally separate their “cash cow” consulting work from their auditing businesses, a U.K. Parliament committee said.

CEO Markus Braun tried to put fraud allegations behind him as questions persisted after an external probe failed to resolve issues from potential criminal behavior.

Wirecard AG surged the most in more than a decade after saying irregularities found in an external investigation into fraud allegations in Asia weren’t material.

The delay for the second year running will spare the country’s banks from adding another layer to the $190 billion pile of bad loans on their books.

The retailer's former chief financial officer is working with authorities as they investigate questionable transactions.

Steinhoff International Holdings NV identified eight people, including former Chief Executive Officer Markus Jooste, as those allegedly behind questionable transactions that brought the global retailer to near-collapse.

The accounting firm association has appointed a longtime ACCA executive director as its new chief, effective June 1, 2019.

For 20 years, the global retailer thrived off deal-making. Now, some of those transactions are back in the spotlight, and not in a good way.

Christo Wiese says the retailer’s overview of a forensic probe into the company’s accounting irregularities supports his claim against the company.