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| | Bob Jensen's Links to Fraud Documents |
 | | The Andersen, Enron, and WorldCom Scandals - http://www.trinity.edu/rjensen/FraudEnron.htm | | | The Enron, Andersen, and Worldcom Scandal Modules Are At --- http://www.trinity.edu/rjensen/Fraud.htm | | | Recent cases against accounting firms – including Arthur Andersen – are eroding that protection, but the other gatekeepers remain well insulated. |
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http://www.trinity.edu/rjensen/fraud.htm
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| | Accounting scandals - Wikipedia, the free encyclopedia |
| | Accounting scandals, or corporate accounting scandals are political and business scandals which arise with the disclosure of misdeeds by trusted executives of large public corporations. | | | The Enron scandal resulted in the indictment and criminal conviction of the Big Five auditor Arthur Andersen on June 15, 2002. | | | In 2005, after a scandal on insurance and mutual funds the year before, AIG is under investigation for accounting fraud. |
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http://en.wikipedia.org/wiki/Accounting_scandals
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| | CNN.com - Suit accuses Cheney, firm of fraudulent accounting - July 11, 2002 |
| | Judicial Watch is also suing troubled accounting firm Arthur Andersen LLP, which was Halliburton's auditing firm at the time. | | | The suit claims accounting practices resulted in the overvaluation of the company's shares, which resulted in investors being deceived. | | | The latest major improper financial disclosure was made last month by the telecommunications giant, WorldCom, which said it had improperly accounted for $3.8 billion in expenses, inflating its earnings. |
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http://edition.cnn.com/2002/LAW/07/10/cheney.suit
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| | Xerox Accounting Scandal |
| | The "accounting tricks" employed by Xerox were a double-edged sword: by accelerating future revenues into present periods, it became increasingly difficult for management to meet investors' expectations in future periods, especially as the economy began to worsen in 1999 and later years. | | | The SEC further charged that the accounting irregularities increased fiscal year 1997 pretax earnings by $405 million, 1998 pretax earnings by $655 million, and 1999 pretax earnings by $511 million (in each quarter of each year, earnings were inflated just enough to exceed the Wall Street's First Call Consensus EPS). | | | The SEC also alleged that Xerox's senior management was aware of, either by directing or approving, the accounting actions that were taken for the purpose of what management called "closing the gap" to meet revenue and profit goals. |
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http://www.corporatenarc.com/xeroxscandal.php
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| | Shell says it overstated profit by $432 million - Earnings - MSNBC.com |
| | The inaccurate accounting of exploration costs and certain gas contracts caused profits to be embellished by $156 million between 2000 and 2002. | | | The accounting overhaul caused Royal/Dutch Shell’s 2001 net income to drop to $10.35 billion, down from $10.85 billion it reported in February 2002, while its 2000 net income increased slightly to $12.87 billion, up from $12.7 billion reported in early 2001. | | | Royal Dutch/Shell said it was switching the accounting method for its North American inventory to conform with the way the cost for the rest of the company’s inventory is calculated, known as “First-In-First-Out,” or FIFO. |
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http://www.msnbc.msn.com/id/5353713
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| | Fool.com: Revisiting Cendant [Fool on the Hill] January 22, 2001 |
| | The accounting scandal that rocked this company in 1998 might never be completely forgotten by the market or by investors, especially those who suffered large losses at the company's hands. | | | As a consequence, much of the accrual accounting elements that existed in Cendant circa 1998, particularly the cash flow accounts for membership acquisition costs and the amortization of those same costs that caused so much consternation around the time of the scandal, have disappeared. | | | Even though its share price is roughly unchanged from where it was after the accounting scandal in late 1998, Cendant still sports a market capitalization close to $10 billion, making a potential double or triple over the next few years a pretty steep challenge. |
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http://www.fool.com/news/foth/2001/foth010122.htm
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| | Guardian WorldCom accounting scandal |
| | But reserves can be abused to create the accounting equivalent of a slush fund. | | | WorldCom has revealed a further $3.3bn in accounting errors, doubling the size of the accounting scandal at America's second largest long distance phone company to more than $7bn. | | | The revision will reduce 2000 profits by more than $3.2bn, but this may not be the end of accounting horrors as the company warned it may find more problems. |
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http://www.guardian.co.uk/print/0,3858,4478810-110816,00.html
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| | How to Avoid an Accounting Scandal - - CFO.com |
| | Focus on operating financial measures as opposed to accounting financial measures. | | | But, often the real health of a business is not very well described by GAAP [Generally Accepted Accounting Principles] numbers, he claims. | | | In fact, accounting-fraud cases accounted for about 20 percent of the SEC's roughly 500 enforcement cases last year. |
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http://www.cfo.com/article.cfm/2995202
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| | CanadianDriver: Accounting scandal hits Delphi |
| | The accounting probe is not complete and the company has identified more irregularities, including more than US$322 million in payments between it and General Motors. | | | General Motors is Delphi's largest customer, accounting for more than 50 per cent of its sales. | | | "Their disclosures have to do with how they accounted for it," said Toni Simonetti of GM. |
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http://www.canadiandriver.com/news/050308-3.htm
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| | The Corporate Scandal Sheet - Forbes.com |
| | Independent audit uncovered accounting problems that boosted revenue and underestimated expenses. | | | We believe that the accounting treatment of the domestic wholesaler inventory buildup has been completely appropriate. | | | Anonymous letters from people claiming to be Kmart employees allege that the company's accounting practices intended to mislead investors about its financial health. |
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http://www.forbes.com/2002/07/25/accountingtracker.html
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| | Accounting fraud on the rise - Jan. 11, 2002 |
| | Pressure from clients on their accountants to make the numbers add up is so great that accountants are faced with a dilemma when there's a problem, betray the client, or overlook it, hoping no one notices and risk getting caught, industry watchers said. | | | NEW YORK (CNN/Money) - As details unfold about the accounting shenanigans that led to Enron's collapse, federal regulators note the case is simply the latest in a growing string of high profile scandals at major U.S. corporations in recent years. | | | Corporations often hire accountants and other personnel from their auditors and accountants, regulators said. |
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http://money.cnn.com/2002/01/11/companies/acct_scandals
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| | IT-Director.com: Qwest caught in accounting scandal |
| | Qwest had fired Arthur Andersen as its auditor after the turmoil of the Enron scandal and hired in its place KPMG in June of this year. | | | It is said that the company improperly accounted for more than $1 billion worth of sales from its optical capacity and equipment unit. | | | Prior to that, presumably around the same time as it got shot of Arthur Andersen, Qwest embarked on an analysis of 'revenue recognition and accounting treatment for optical capacity sales,' amongst other things. |
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http://www.it-director.com/article.php?id=3062
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| | Accounting Scandal and the Economy - Conservative Monitor |
| | Added to unexciting economic data, the accounting scandal is raising investor concern and confidence about a recovery, particularly a profit recovery. | | | Accounting Scandal and the Economy - Conservative Monitor | | | Ed Eboch PhD/SEATTLE/ Conservative Monitor -- Just when it appeared the recession was milder than thought and that the economic recovery was underway, a decline in consumer confidence and weak capacity utilization indicate that the downturn might linger and a recovery may be slow to materialize. |
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http://www.conservativemonitor.com/finance/2002003.shtml
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| | adores.org - accounting scandal |
| | How finance executives are keeping their companies safe and secure from accounting scandals and other material missteps. | | | WorldCom Rocked by Accounting Scandal This document discusses what the effect of the WorldCom scandal will be. | | | Search by definition of Accounting scandals of 2002. |
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http://www.adores.org/sites/accounting_scandal
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| | Accounting Scandal: Liberate, Charter Fire Execs |
| | The company now plans to restate its fiscal 2002 annual report once the accounting probe is completed. | | | Liberate was due to issue its annual report in December 2000 but that has been pushed back and the company said no date had been fixed for the completion of the accounting audit. | | | In the midst of a federal grand jury probe into its accounting procedures, the cable television firm announced that fired CFO Kent Kalkwarf would be replaced on an interim basis by VP Steven Schumm on an interim basis. |
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http://siliconvalley.internet.com/news/print.php/1562131
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| | WorldCom finances in upheaval; CFO fired CNET News.com |
| | "As a result of an internal audit of the company's capital expenditure accounting, it was determined that certain transfers from line cost expenses to capital accounts during this period were not made in accordance with generally accepted accounting principles," the company said. | | | Taking the new information into account, the company said it would have reported a net loss for 2001 and the first quarter of 2002. | | | WorldCom fired its top financial executive Tuesday after discovering that the company had improperly accounted for almost $4 billion on its corporate balance sheets during the past five quarters. |
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http://news.com.com/2100-1033-939344.html
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| | Xerox Accounting Scandal Cartoons |
| | Related topics: xerox, xerox accounting scandal, corporate accounting scandals, corporate scams, corporate crime, corporate fraud, financial fraud, accountant, accountants, | | | Xerox Accounting Scandal cartoon 1 - catalog reference jhan28 | | | Follow the links at the bottom of this page to search on other topics or to purchase reproduction rights for any of these images or merchandise incorporating the cartoons. |
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http://www.cartoonstock.com/directory/x/xerox_accounting_scandal.asp
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| | Worldcom engulfed in $3.8bn accounting scandal The Register |
| | As with many accounting sleight of hands, the cash position of the business is unaffected. | | | Worldcom, the US telco, has uncovered an huge accounting scandal at the firm, which overstated profits by an astonishing $3.8bn. | | | Smart Accounts 2000 — An accounts package home or small busi... |
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http://www.theregister.co.uk/2002/06/26/worldcom_engulfed_in_3_8bn
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| | OfficeMax Accounting Scandal Reaches SEC |
| | What’s more, certain rebates and other payments from vendors in 2004 were not recorded in the appropriate accounting periods. | | | The scandal over accounting for vendor income that led to the ouster of OfficeMax president/CEO Christopher Milliken has now reached the Securities and Exchange Commission. | | | OfficeMax amended its quarterly report that it overstated its cumulative net operating income in the first three fiscal quarters of 2004 by $4.3 million. |
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http://multichannelmerchant.com/news/OfficeMax_SEC_0614/index.html
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| | AM Archive - Adecco embroiled in accounting scandal |
| | DAVID HARDAKER: After the Parmalat scandal, dubbed "Europe's Enron," an accounting scandal has hit yet another global company. | | | AM Archive - Adecco embroiled in accounting scandal | | | Meanwhile, at home, the corporate regulator, ASIC, has written to 72 big fund managers questioning their investment practices after a market manipulation scandal with big pension funds in the United States. |
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http://www.abc.net.au/am/content/2004/s1024807.htm
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| | WorldCom Settles Accounting Scandal |
| | Four WorldCom executives have pleaded guilty to their roles in the accounting misstatements that plunged the company into bankruptcy, and Rakoff has already approved a settlement with two of those executives. | | | The settlement, which stems from civil charges against the company, requires all WorldCom employees responsible for accounting, including new CEO Michael Capellas, to attend training seminars in business ethics for at least three years. | | | WorldCom has admitted to at least $9 billion in erroneous accounting. |
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http://accounting.smartpros.com/x36177.xml
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| | X-bit labs - Hardware news - ABIT Keeps Supplying Mainboards Amid Accounting Scandal. |
| | While the company does not explain peculiarities of its operations and respond to allegations, it says its financial and accounting policies are transparent.. | | | All of ABIT financial statements are in accordance with Generally Accepted Accounting Principles (GAAP). | | | As a consequence of accusations, ABIT may face investigation and even have at least some of its assets frozen, which will effectively force the company to cease certain, or all, of its operations, as it will not have funds to pay for components of its products. |
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http://www.xbitlabs.com/news/other/display/20041221142822.html
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| | Accounting scandal! |
| | That change helps balance the global carbon budget, which had previously been looking almost as screwy as Enron's accounting books. | | | One last item on the positive side of the ledger: Climatology and carbon budgeting may be confusing, but at least nobody has shredded the files... | | | The finding also alters the global "carbon budget," an assessment of how the element is moving around the Earth. |
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http://whyfiles.org/shorties/102carbon_cycle
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| | Unconventional Transactions Boosted Sales (washingtonpost.com) |
| | "The accounting for all of these transactions is appropriate and in accordance with generally accepted accounting principles," wrote Thomas D. Yannucci, a lawyer hired by AOL to respond to The Post's questions. | | | It added that failing dot-coms accounted for only a fraction of its overall business and that other, more stable companies were more than making up that revenue. | | | AOL officials declined to be interviewed on the record about the transactions. |
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http://www.washingtonpost.com/wp-dyn/articles/A21983-2002Jul17.html
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| | ProfessorBainbridge.com: Parmalat as an Accounting Scandal |
| | The difficulty with the European line of reasoning, however, was that Enron was basically an accounting fraud (as have been most of the other major corporate scandals). | | | Nobody who knew anything about European accounting standards was surprised when it turned out that Europe had its own share of Enrons just waiting to be discovered. | | | As it turns out, neither the US nor Europe has any shortage of accounting loopholes or of businessmen eager to cease upon them to conceal losses or of lawyers and auditors prepared to assist. |
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http://www.professorbainbridge.com/2003/12/parmalat_as_an_.html
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| | funworld/fun4you: Microsoft Accounting Scandal |
| | With the collapse of WorldCom, Enron, Andersen Accounting, Adelphia, Tyco, AOL/TW, and others, many industry observers are shocked that Microsoft has remained scandal-free and Congressional-inquiry-resistant. | | | For the past several weeks, Linux longhairs from across the globe have been glued to their television sets watching the financial news while hoping and praying that Microsoft will join the growing list of corporations embroiled in accounting scandals. | | | Other industry observers point out that Enron and friends probably lost so much money because of their reliance on Microsoft software with its expensive licensing requirements. |
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http://www.hehe.at/funworld/archive/fun4you.php?joke=2026
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| | Arthur Andersen Accounting Scandal |
| | Our arthur andersen accounting scandal site will point you in exactly the right direction for what you're searching for. | | | One of the most amazing thing about arthur andersen accounting scandal on the internet is that you can quickly and rapidly track down whatever you're looking for. | | | Doing thorough research and sourcing quality links is time consuming when looking for commercial enterprises information and then sifted out the best sites so we could point you in the right direction. |
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http://moreresourcesabout.com/.../arthur_andersen_accounting_scandal.html
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| | Solution Providers Gauge Accounting-Scandal Fallout |
| | Solution Providers Gauge Accounting-Scandal Fallout Decline in IT spending not likely E-mail this article Print this article Link/reprint this article Breaking News Don't expect the accounting scandals at Xerox and WorldCom to have any impact on IT spending. |
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http://www.webprowire.com/summaries/159274.html
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| | The Savings and Loan Scandal and Public Accounting |
| | It is not too surprising that this latest scandal wiped out one of the world's largest accounting firms. It could have been any of them, | | | [20] The only saving grace of the Enron scandal at this time is that the taxpayer is not footing the bill as they did during the SandL Scandal. | | | Edward Herman this time. How willful is this blindness gripping the American government and corporate scene, especially when every week now, another corporation is coming forward and admitting an accounting “problem” of a few billion dollars or so? |
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http://www.ahealedplanet.net/savings.htm
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| | BusinessPundit: Cablevision Accounting Scandal |
| | More bad accounting (registration required), this time at Cablevision. | | | Just when the cable industry thought it might be out from the shadow of accounting scandals, Cablevision Systems (CVC) said on June 18 that it had terminated the president of its American Movie Classics division and 13 other employees for allegedly improperly accelerating the accrual of expenses and fabricating invoices. | | | A five-month review by company and outside auditors alleged that, between 1999 and 2002, about $18 million in expenses was improperly accrued a year ahead of schedule, helping to boost earnings in the upcoming year. |
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http://www.businesspundit.com/archives/000338.htm
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| | IT-Director.com: WorldCom rocked by accounting scandal |
| | The company has asked accountants KPMG to review the accounts. | | | Analysts said that the accounting revelation could affect the company's bid to raise $5bn in funding and may even result in bankruptcy. | | | Networks and telecoms giant WorldCom has become the latest large US firm to be hit by an accounting scandal, after a shortfall of almost $4bn. |
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http://www.it-director.com/article.php?id=2982
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| | Franklin Raines's Lost Gamble |
| | After days of meetings, the board of the Washington (D.C.)-based mortgage giant announced that Raines would take early retirement in the wake of the company's accounting scandal. | | | The result: A Sept. 17 report charging that Fannie had smoothed its earnings for 3-1/2 years by violating accounting standards for its hedging transactions. | | | The SEC ordered it to start working on a restatement that's likely to lop $9 billion off its earnings -- 40% of reported profits from 2001 through mid-2004. |
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http://www.businessweek.com/bwdaily/dnflash/dec2004/nf20041222_8027_db035.htm
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| | Greenberg to Step Down at AIG - - CFO.com |
| | The transactions were reportedly all carried out with one Barbados company, and it appears that liability was incorrectly shifted to that offshore entity. | | | Based on the paper's report, AIG lawyers said that the accounting for 50 separate AIG transactions could result in $1.5 billion worth misstatements. | | | The insurance giant was dealt another blow on Monday when attorneys representing independent AIG directors admitted to regulators that they uncovered evidence suggesting the company regulatory filings may have mislead investors and regulators, reported the Wall Street Journal, citing people close to the matter. |
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http://www.cfo.com/article.cfm/3808567/c_3808954?f=home_todayinfinance
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| | Mossback's Progress: Accounting scandal |
| | Accounting scandal -- Live from the WTC has some interesting remarks in the accounting scandals: | | | A brief survey of left and right accounting-savvy people I know shows that every single one of them wants reform, and none of them have the faintest clue as to how to implement it. |
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http://www.bennett.com/archives/000770.php
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| | Ahold accounting scandal worse than expected |
| | But a thorough examination of the accounts by PricewaterhouseCoopers (PwC) shows that the figure is nearer $880 million. | | | These audits will be completed by 30 June, Ahold stressed. | | | When the company first reported that profits at the US business had been overstated, it estimated the figure to be around $500 million (434.8m). |
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http://www.dairyreporter.com/news/news-ng.asp?id=17477
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| | CBS News Disaster Strikes In Red Cross Backyard July 31, 2002 20:42:45 |
| | Healy warns about accounting problems at local chapters. | | | Report cites many "critical" and "major" issues in Red Cross accounting practices. | | | The American Red Cross may be expert at responding to public disasters, but for years it has failed to get a grip on financial disasters at its local chapters. |
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http://www.cbsnews.com/stories/2002/07/29/eveningnews/main516700.shtml
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| | Accounting scandal hits Ahold - Feb. 24, 2003 |
| | The company said the overstatements of income were primarily related to discount programs at U.S. Foodservice, the No. 2 U.S. food service distributor to restaurants, hotels, schools and other institutions. | | | Henry de Ruiter, chairman of Ahold's supervisory board and acting CEO, said in a conference call that there were no plans to sell large units or break up the company at this time | | | CEO Cees van der Hoeven and Chief Financial Officer Michael Meurs will resign after auditors Deloitte & Touche uncovered irregularities during their audit of the 2002 accounts, he said. |
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http://money.cnn.com/2003/02/24/news/companies/ahold_grocers
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| | corporate accounting scandal - OneLook Dictionary Search |
| | We found one dictionary with English definitions that includes the word corporate accounting scandal: | | | Tip: Click on the first link on a line below to go directly to a page where "corporate accounting scandal" is defined. |
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http://www.onelook.com/?w=corporate+accounting+scandal
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| | Techdirt:The Latest Accounting Scandal: AOL |
| | It seems that AOL started booking whatever they could as advertising revenue, including legal deals, shifting revenue from other divisions, buying ads for eBay - but counting it as its own revenue and many other somewhat sketchy practices. | | | The Washington Post has a long (very long) investigative report about accounting questions at AOL. | | | AOL has responded (very quickly) saying they've done nothing wrong (they base that on their auditors), and even if they had been doing stuff wrong, it would only account for a tiny (2%) portion of their revenue, and thus wouldn't really matter. |
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http://www.techdirt.com/articles/20020718/0210238.shtml
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| | Al-Qaeda accounting scandal |
| | Mo in Jakarta, I'm talking to you: You can't be invoicing for "72 doe-eyed virgins." That's for after you go to heaven, not before. | | | Going over some of your expense accounts, I'm a little shocked at how far we've let things slip. | | | It's bad enough we're losing the war, now we have an accounting scandal on our hands. |
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http://www.freerepublic.com/focus/news/754260/posts
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| | WorldCom Rocked by Accounting Scandal |
| | This document discusses what the effect of the WorldCom scandal will be. | | | Sign up today for email alerts of new market research reports in your industry. |
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http://www.marketresearch.com/researchindex/823928.html
(84 words)
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