International accounting

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.

Steinhoff International Holdings NV plans to dig deeper into the accounting misdeeds that brought the retailing giant to its knees as it seeks to get to the bottom of some $7.4 billion in fictitious or improper deals.

PKF International has appointed James Hickey as the new CEO of the global network of independent accounting firms, effective March 19.

The German payment processor’s Indian business became a focus point again and a Citigroup analyst said the company faces prolonged uncertainty because of the accounting allegations it’s facing.

Regulators in some Asian countries are getting tougher on auditors after landmark defaults, in an increasingly high-stakes game as investors call for earlier warning signs amid expectations for debt failures to mount.

Olympus Corp. lost a U.K. lawsuit that tried to block the pension of former head Michael Woodford after he blew the whistle on an alleged $1.7 billion accounting fraud and 13-year cover-up at the firm.