Please ensure Javascript is enabled for purposes of website accessibility
June 2, 2023

When accounting goes unaccounted for

Menu
Latest
Bonus Season Is Not Looking Good at the King’s KPMG Promotion Watch ’23: EY Promotes 966 to Partner, Missing Last Year’s Record of 1033 Kill the Audit Industry, Says Ex-Auditor KPMG Gets Sued, Accused of Allowing Pirate-Like Activity at Credit Suisse Promotion Watch ’23: The Baker Tilly Partner Bench Is Now 44 People Deeper
Financial Reporting

American Realty Capital: Nothing to See Here Except Some Weak Internal Controls

by Caleb Newquist

American Realty Capital Properites reported the results of its internal investigation into accounting irregularities and SURPRISE, it's just some weak controls. 

Interim ARCP CEO William Stanley is quoted, "Importantly, the investigation did not identify any material changes relating to our real estate ownership, the validity of our leases or our fundamental business operations."

So we're good then, right? I mean when have you ever heard of a company having weak controls that were indicative of a larger problem?

[WSJ] 

Latest Accounting Jobs--Apply Now:

Load more listings

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

Audit

New SOX In the U.K.? It’s (Probably) Coming Soon

by Tim Ames

The February gloom was broken recently by the news that the British government will be introducing reforms targeting company financial reporting and audit oversight. In truth, none of this should be a surprise. There have been several accounting scandals in recent years where the directors of various companies have been unscrupulous and their external auditors […]

Financial Reporting

Learn How COVID-19 Is Impacting Q2 Financial Disclosures—For Free!

by Jason Bramwell

In yesterday’s Accounting News Roundup e-newsletter, you might have noticed an ad for a free webinar on June 23, “Be Ready: Q2 Disclosures in Light of COVID.” (If you do not subscribe to ANR, you can do so here, thx.) Because the COVID-19 pandemic is affecting pretty much everything in life—yes, even public company financial […]