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The U.S. Securities and Exchange Commission has brought enforcement actions against corporations for many types of fraudulent financial reporting, including improper revenue recognition, period-end stuffing, fraudulent post-closing entries, improper asset valuations, and misleading non-GAAP financial measures.
The CFPB's lawsuit against Experian underscores the critical importance of accurate credit reporting in our financial system. As consumers, we rely on these reports to access credit, housing, and ...
The Louisiana Legislative Auditor's Office reviewed the financial statements of the Student Tuition Assistance and Revenue Trust Program, or START, for the year ending Dec. 31, 2023.
This approach states that the auditor has liability under ordinary negligence if the third party is known to be using the financial statements and there has been some sort of direct communication between the two parties. [12] An example could be the auditor directly giving a report to the bank that will be providing the loan for an actual client.
The CFPB website lists common reasons why consumers may have a negative consumer disclosure report: Unpaid negative balances (as a result of overdraft fees, for example). An involuntary closure of ...
Following the financial crisis of 2007–2008, and allegations over excessive executive pay, demand for products dropped. Anglo Irish Bank: Ireland: 15 Jan 2009: Banking: After the financial crisis of 2007–2008, the bank was forced to be nationalised by the Irish government. Arcandor: Germany: 9 June 2009: Retail
The three national credit reporting agencies — Experian, Equifax and TransUnion — said last year that they were removing medical collections under $500 from U.S. consumer credit reports.
Voluntary disclosure is the provision of information by a company's management beyond requirements such as generally accepted accounting principles and Securities and Exchange Commission rules, [1] [2] where the information is believed to be relevant to the decision-making of users of the company's annual reports.