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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2022-08-29T19:44:00
The Securities and Exchange Commission (SEC) ordered a former principal accounting officer and controller at PPG to pay $100,000 for accounting improprieties aimed at inflating the Pittsburgh-based painting supply company’s earnings per share.
Mark Kelly, who was terminated by PPG in 2018 after an internal investigation into his alleged actions, was barred from practicing as an accountant at any public firm without the right to apply for reinstatement, according to the SEC’s order published Friday. Kelly did not admit nor deny the agency’s findings in reaching settlement.
Kelly inflated earnings during the years 2016-18, according to the SEC.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2019-09-30T17:23:00Z By Jaclyn Jaeger
PPG announced the SEC and Department of Justice have ended their investigation into alleged accounting irregularities by the company and will not be issuing a financial or any other penalty.
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