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Kraft Heinz violated anti-fraud and recordkeeping requirements in federal securities laws, the SEC said, but the company did not admit or deny wrongdoing in the settlement.
The SEC investigation resulted in the largest corporate accounting fraud case in history up to that time, with WorldCom settling its case for $2.25 billion.
Many of these accounting scandals were a result of the excessive greed of a few individuals whose actions led to disastrous consequences which brought down whole companies and affected millions of people. In this article, we look at the 10 biggest accounting scandals in recent times.
The SEC's order finds that Kraft violated the negligence-based anti-fraud, reporting, books and records, and internal accounting controls provisions of the federal securities laws.
Kraft Heinz and two of its former high-ranking executives settled charges with the Securities Exchange Commission, which found the company engaged in a “years-long accounting scheme” involving ...
Regulators said the big auditing firm — also known as EY — had misled investigators, withheld evidence and violated public accounting rules designed to maintain the integrity of the profession.
The Securities and Exchange Commission today charged accounting firm Ernst & Young LLP (EY), one of its partners, and two of its former partners with improper professional conduct for violating auditor independence rules in connection with EY's pursuit to serve as the independent auditor for a public company with nearly $5 billion in revenue ...
Adler, ditched by its auditor KPMG last year after the Big Four firm issued a disclaimer opinion for the 2021 results, has so far been unsuccessful in its search for a replacement. The uncertainty...
Ernst & Young has been slapped with a record $100 million fine from the US government after regulators discovered that the company knew some of its auditors were cheating on exams for several...
The Securities and Exchange Commission today charged the former CEO and CFO of FTE Networks Inc., a network infrastructure company formerly based in Naples, Florida, with conducting a multi-year accounting fraud.