October 16, 2018/US SEC The Securities and Exchange Commission today issued an investigative report cautioning that public companies should consider cyber threats when implementing internal accounting controls. The report is based on the SEC Enforcement Division’s investigations of nine public companies that fell victim to cyber fraud, losing millions of […]
Frauds & Scandals
Sears, the store that changed America, declares bankruptcy
Culled–CNN By Chris Isidore, CNN Business Sears, the once-dominant retail chain that changed how Americans shopped and lived, has filed for bankruptcy. The 132-year-old company has been struggling for several years and is drowning in debt. The final straw was a $134 million debt payment due Monday that it could […]
SEC Suspends Former BDO Accountants for Improperly “Predating” Audit Work Papers
October 12, 2018/US SEC The Securities and Exchange Commission today suspended three former BDO USA LLP accountants for their improper professional conduct during an audit of an exchange-listed insurance company. According to the SEC’s order, BDO fell behind schedule while conducting its 2013 integrated audit of AmTrust Financial Services Inc. […]
