Blog Entries tagged 'accounting manipulation'

SEC clears Zale...again

stephentaub@yahoo.com — Sat, 16 Apr 2011 23:00:00 +0100

The Securities and Exchange Commission told Zale it has completed its investigation of the company and does not intend to recommend any enforcement action.

"We are glad to share with our investors and employees that this matter is now behind us as we continue to focus on returning our business to profitability," said Theo Killion, Chief Executive Officer of the jewelry retailer, in a statement.

The SEC launched the investigation after the company restated it [...]

Why do CFOs cook the books?

karen@karenkroll.com — Mon, 06 Sep 2010 23:00:00 +0100

A recent study, "Why Do CFOs Become Involved in Material Accounting Manipulations," by researchers at the University of Pittsburgh and the University of Washington attempts to answer just this question. Their finding? Pressure from the companies' CEOs, more than the possibility of financial gain, tends to drive the actions of crooked CFOs.

Of course, the researchers couldn't actually divine the motivations that drove the CFOs who manipulated numbers. Inst [...]