Articles Posted in accounting fraud

On September 28, 2020, the Securities and Exchange Commission (SEC) announced it had settled actions against two public companies for improperly reporting their quarterly Earnings Per Share (EPS). These actions were the first to come out of the agency’s Division of Enforcement’s “EPS Initiative.” A handful of other companies have…

We often hear about accounting fraud when a big case hits the news. For example: Xerox falsified its financial records for five years, inflating its earnings by $1.5 billion; Lehman Brothers failed to disclose an accounting loophole that reported short-term loans as sales; and Haliburton improperly overbooked cost overruns. When…