Accounting & Auditing

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AI Law

Former CEO of AI recruiter Joonko charged with $27M fraud

2024-06-12T22:14:00+01:00By

The former chief executive officer of closed AI recruitment startup Joonko faces up to 40 years in prison and the potential of penalties levied by the Securities and Exchange Commission for allegedly defrauding investors of more than $27 million.

Accounting trends

PCAOB Chair Williams appointed to second term

2024-06-12T01:46:00+01:00By

Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.

SEC

HF Foods to pay $3.9M to settle execs’ alleged fraud

2024-06-07T18:18:00+01:00By

Food service distributor HF Foods Group agreed to pay a $3.9 million penalty as part of a settlement with the Securities and Exchange Commission regarding alleged fraudulent conduct carried out by its former chief executive officer and former chief financial officer.

London Financial District

Reignited calls to tighten up AML in London, crown dependencies

2024-06-06T13:52:00+01:00By

Despite repeated interventions, fines, and negative publicity, money laundering is rife in U.K. financial services firms, according to Deputy Foreign Secretary Andrew Mitchell.

Epoch Times

Epoch Times CFO charged in $67M money laundering scheme

2024-06-04T18:40:00+01:00By

The chief financial officer of the Epoch Times was charged with laundering at least $67 million in illegally obtained funds to bolster the fortunes of the newspaper and himself.

Accounting

Autodesk says no restatements following accounting probe

2024-06-03T17:35:00+01:00By

Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.

GHG emissions

Treasury, other agencies issue voluntary carbon market principles

2024-05-28T19:20:00+01:00By

The Treasury Department and other U.S. agencies announced a coordinated federal policy concerning carbon credits and other voluntary incentives to encourage businesses and agriculture to cut their carbon footprints.

AuditTransparency

Broadway Financial discloses ICFR weaknesses due to training shortfalls

2024-05-24T16:27:00+01:00By

Los Angeles-based bank holding company Broadway Financial Corp. disclosed in a public filing weaknesses discovered in its internal control over financial reporting because of training shortfalls.