Kraft Heinz fined $62M in SEC accounting probe
By 
Jaclyn Jaeger2021-09-03T15:03:00
Kraft Heinz agreed to pay $62 million as part of a settlement with the SEC for improper accounting that led to the restatement of several years of financial reporting.
Related articles
-
OpinionWhy are CFOs struggling to stay compliant?
CFOs are tasked with overseeing an organization’s entire financial processes, not least ensuring that financial operations remain compliant with the multitude of global regulations. It’s a heavy burden to carry that might be alleviated slightly with the help of artificial intelligence, writes Markus Hornburg, head of compliance at Basware.
-
ArticleReport: Accounting enforcement at SEC, PCAOB down in 2021
The amount of accounting and audit enforcement actions by the Securities and Exchange Commission and Public Company Accounting Oversight Board decreased in 2021, resulting in a sharp decline in monetary settlements, according to Cornerstone Research.
-
Article
Citing misconduct in procurement, Kraft will restate
Kraft Heinz will restate nearly three years of financial results after determining employee misconduct in procurement caused a net $208 million misstatement in product costs.
More from Regulatory Enforcement
-
News BriefSEC reportedly denying record percentage of whistleblower claims
The Securities and Exchange Commission is awarding far fewer whistleblower claims, according to Bloomberg Law, which noted the commission denied awards for the entire period between April and July, the longest stretch in the program’s history.
-
News BriefTrump’s firing of FTC commissioner violated federal law, court finds
The firing of a Democrat commissioner of the U.S. Federal Trade Commission by President Donald Trump was illegal, according to a federal judge’s ruling last week.
-
News BriefDelta to pay $8.1 million over False Claims Act violations tied to pandemic aid
Delta Air Lines agreed to pay $8.1 million over allegations it violated the False Claims Act by exceeding employee compensation limits it agreed to when taking federal pandemic aid money.