Though asset misappropriation and “cybercrimes” like denial-of-service and virus attacks are among the most prevalent economic crimes, most senior executives are apparently kept up at night by fears of financial misrepresentation, in which company accounts are altered. However, those crimes only constitute two percent of economic crimes, according to a study by Wilmer, Cutler & […]
Regulatory Enforcement
Posted inAccounting & Auditing
Survey: Companies Avoiding Pro Forma Announcements
At last week’s annual conference of the National Investor Relations Institute, the results of a survey were released that show companies are attempting to avoid use of pro forma numbers in earnings statements. The survey, which was originally conducted to determine whether new disclosure rules were negatively impacting the flow of information to shareholders and […]
Posted inRegulatory Enforcement
Can A Possible Reg. FD Violation Turn Into An 8-K Breach?
Can a possible Reg FD violation turn into an 8-K breach? This is one of the questions surrounding AFC Enterprises, the fast food company that operates Cinnabon, Popeye’s and Church’s fried chicken. Last week, AFC filed its long-awaited 10-K for 2002, restating previously-reported earnings by $27.4 million over a three-year period due to what it […]
