Neil Cole, the former CEO of Iconix Brand Group, faces possible jail time after his conviction of fraudulently inflating the brand management company’s revenue and misleading investors and auditors.
Accounting & Auditing
Posted inAccounting & Auditing
Unisys: Probe identified ‘material weaknesses’ in disclosure controls
IT services company Unisys Corp. revealed the discovery of faults in its internal control over financial reporting, including involving its compliance functions, following an internal investigation it first disclosed earlier this month.
Posted inAccounting & Auditing
Navigating using non-fungible tokens in business applications
Non-fungible tokens can take many forms. There are potential business applications already in use, and many more are being developed as technology evolves.
Posted inAccounting & Auditing
Ex-CEO at NS8 to serve five years in jail, forfeit $17.5M for fabricating revenue
The co-founder of NS8, a cyber-fraud prevention company, was sentenced to five years in prison and ordered to forfeit $17.5 million for defrauding investors of more than $100 million, the Department of Justice announced.
Posted inAccounting & Auditing
SEC orders Koppers Holdings to pay $1.3M for disclosure failures
Koppers will pay $1.3 million to the Securities and Exchange Commission to settle allegations it failed to disclose material information about its debt in fiscal year 2019.
Posted inAccounting & Auditing
KPMG finds large companies ‘on the precipice of a new era’ of ESG reporting
Sustainability reporting has seen steady growth over the past three decades while overall perspectives about environmental, social, and governance reporting have seen dramatic shifts, according to the latest findings of KPMG’s Global Sustainability Report.
Posted inAccounting & Auditing
Survey: How businesses are confronting governmental licenses in M&As
The results of a recent survey conducted by Compliance Week and Avalara found most businesses consider governmental licenses as part of due diligence efforts during mergers and acquisitions, yet the opportunity for risk management improvements remains.
Posted inAccounting & Auditing
SEC passes Dodd-Frank executive pay clawback rule
The Securities and Exchange Commission passed a rule to require public companies to recover incentive-based compensation doled out to current and former executives up to three years before issuing an accounting restatement.
Posted inAccounting & Auditing
Cronos avoids fine in SEC settlement over accounting errors
Canadian cannabis company Cronos Group and its former chief commercial officer each avoided fines in reaching settlements with the Securities and Exchange Commission over alleged accounting fraud.
Posted inAccounting & Auditing
Impact of FASB measuring crypto assets at fair value
The Financial Accounting Standards Board tentatively decided to require crypto assets that are in scope to be measured at fair value. Experts discuss the evolving ramifications of the project.
