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Allaire, Thoman, Romeril, and three other senior Xerox executives paid the SEC $22 million to settle accusations by securities regulators that they participated in a large accounting fraud that allowed the company to overstate its profits by $1.4 billion from 1997 to 2000. As the "Xerox six" were not found guilty of wrongdoing, Xerox said that ...
The Enron scandal was defined as being one of the biggest audit failures of all time. The scandal included utilizing loopholes that were found within the GAAP (General Accepted Accounting Principles). For auditing a large-sized company such as Enron, the auditors were criticized for having brief meetings a few times a year that covered large ...
In 2002, Xerox was fined $10 million by the U.S. Securities and Exchange Commission (SEC) for allegedly deceiving the public between 1997 and 2000 by employing several "accounting maneuvers," with six Xerox senior executives paying another $22 million in 2003.
In a filing with the Securities and Exchange Commission, Xerox announced today it was under investigation by the SEC as a result of the accounting practices at Affiliated Computer Services (ACS ...
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Xerox logo 1968–2008, designed by Chermayeff & Geismar. Although Xerox is a global brand, it maintained a joint venture from 1962 to 2021, Fuji Xerox, with Japanese photographic firm Fuji Photo Film Co. to develop, produce and sell in the Asia-Pacific region. Fujifilm announced in January 2020 that it would not renew its technology agreement ...
A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Many recent corporate collapses and scandals have involved some type of false or inappropriate accounting (see list at accounting scandals ).