May 6, 1992 |
A federal judge Tuesday ordered an accounting of Mike Tyson's boxing income since 1989 and how much was paid to his former manager, Bill Cayton. The former heavyweight champion and Cayton, whose contract expired in February, are suing each other, both claiming they have been shortchanged by the other. The accountant "shall not make any findings as to the proper or appropriate allocation of any such amounts, nor shall he determine what contracts are enforceable," the order said.
August 1, 2002 |
Vodafone Group, Europe's biggest mobile-phone company, said its accounting methods sometimes lead to booking 100% of revenue in transactions in which part of the amount is shared with third parties. Vodafone in some cases booked all the revenue from wireless Internet services as sales even when a portion was paid to third parties as part of content-sharing agreements, the Financial Times reported, citing the company.
August 6, 2002 |
Mirant Corp. said that the Securities and Exchange Commission has started looking into its accounting and energy trading after the company disclosed last week that it may have misreported $253 million in assets and liabilities. The SEC asked for details on transactions with other companies, as well as shareholder lawsuits and energy sales in the West during California's power shortage, Mirant said.
December 4, 2002 |
Michael Eisner and his wife have dropped a lawsuit that claimed their accountant miscalculated their California taxes for 1996 through 1999, according to court papers. The Walt Disney Co. chief executive and his wife, Jane, filed a notice in U.S. District Court in Los Angeles last week that they were dismissing the suit against Executive Monetary Management Inc.
October 20, 1989 |
About a year ago, Marcia Huntley's bankers strongly urged her to find a more sophisticated accountant to better guide the growth of her family's manufacturing business. The bankers felt that Tubular Specialties Manufacturing Inc. needed more sophisticated cost analysis and accounting systems. "If your accounting isn't as smooth as glass, it's amazing what it will do to the rest of the company," said Huntley, president of the firm that manufactures and sells stainless steel tubing products.
December 22, 2001 |
Homestore.com Inc., two weeks after its chief financial officer resigned, said Friday that its board is conducting an inquiry into accounting practices. Homestore.com, the biggest online home-listing company, also said it will restate certain financial statements. The board's audit committee notified the Securities and Exchange Commission of the inquiry and has hired an independent counsel and accountants to assist it, the company said.
CALIFORNIA | LOCAL
December 13, 2011 |
A state investigation has concluded that campaign treasurer Kinde Durkee provided clients with accounting services without a license, officials said Monday. But they have had trouble finding a prosecutor without ties to the ubiquitous political aide. Durkee is already facing a federal charge of mail fraud that includes allegations of mishandling campaign funds from a state lawmaker's account. A separate investigation by the state Board of Accountancy now has determined that she lacked a license, which board spokeswoman Lauren Hersh said would be a misdemeanor that could result in up to six months in jail and $1,000 in fines.
April 18, 2003 |
Douglas Carmichael, an academic who has accused the accounting industry of having lax standards, on Thursday was named chief auditor of the new agency that will oversee the industry. Carmichael, 61, an accounting professor at Baruch College in New York, will play a key role as the Public Company Accounting Oversight Board begins to set audit standards this year.
December 31, 2008 |
Federal regulators officially rejected a banking industry push to suspend accounting rules that force banks to value assets on their balance sheets at current market prices even if they plan to hold them for years. The Securities and Exchange Commission issued a report to Congress that recommended maintaining so-called mark-to-market rules but suggested improvements to current accounting practices.
April 2, 2005 |
The FBI has joined the government investigation of accounting errors totaling hundreds of millions of dollars at Delphi Corp., the world's largest auto supplier. Dawn Clenney, a spokeswoman for the FBI's Detroit office, confirmed that the bureau was investigating alongside the Securities and Exchange Commission and U.S. postal inspectors. Delphi spokeswoman Claudia Baucus said the company itself was not a target.