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Macy's said an employee intentionally made accounting errors totaling $132 million to $154 million. Auditing experts told BI the available evidence suggests a failure of internal accounting controls.
Macy's on Monday delayed its third quarter earnings release as it conducts an internal investigation into an employee hiding up to $154 million of expenses.An employee responsible for small ...
(Reuters) -Macy's on Monday delayed its third-quarter results after finding that an employee hid as much as $154 million in expenses over years, instead issuing preliminary sales figures that fell ...
[1] Issues Papers were the vehicle the AICPA's Accounting Standards Executive Committee (AcSEC) used to present emerging practice problems to the FASB and accounting practitioners. Issues Papers generally followed a standard format: (1) background, (2) analysis of current practice, (3) review of the literature, (4) statement of issues needing ...
Super Micro Computer, Inc (NASDAQ:SMCI) stock continued to fall on Thursday after Rosenblatt analyst Hans Mosesmann suspended his rating on the artificial intelligence server company, citing ...
The Accounting Review, launched in 1926 by William Andrew Paton, [7] is one of the oldest academic journals in accounting. [8] [9] The American Association of University Instructors of Accounting, which later became the American Accounting Association, originally proposed that the association publish a Quarterly Journal of Accountics, but the proposal did not see fruition, and The Accounting ...
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).
An accounting investigation is under way at Archer Daniels Midland and the top financial executive at the agribusiness giant has been placed on administrative leave. The company postponed the ...