All accounting failures articles

  • Accounting computer

    Super Micro Computer, former CFO charged with accounting violations


    A California-based server and cloud computing firm has agreed to pay $17.5 million as part of a settlement with the SEC to resolve charges of improperly booked revenue and understated expenses.

  • Wirecard

    Wirecard scandal will have cascading impact on Germany’s audit, regulatory landscape


    Wirecard already is shaping up to be to Germany what Enron was to the United States: An accounting oversight failure so epic in its scope and scale that its aftermath is likely to forever alter the country’s auditing and accounting profession as it exists today.

  • Blog post

    Tesco, the SFO, and the FCA come to terms


    Tesco Stores will pay a £129 million (U.S.$161.4M) fine over a 2014 misstatement of the retailer’s profits. The fine, part of a deferred prosecution agreement with the Serious Fraud Office, is a clarion call for all companies to strengthen their internal controls.

  • Blog post

    GM resolves SEC ignition switch investigation


    Without admitting or denying any wrongdoing, General Motors has agreed to pay a $1 million civil penalty to resolve charges that deficient internal accounting controls prevented the company from properly assessing the potential impact on its financial statements of a defective ignition switch found in some vehicles. Jaclyn Jaeger reports.