- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2019-10-07T16:56:00
A high-ranking Nissan executive reportedly quashed a recommendation to establish a special committee to determine whether any additional disciplinary actions were necessary surrounding allegations of financial misconduct.
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Carlos Ghosn, the former chairman of Japanese automaker Nissan, late last week secretly fled Japan, where he was awaiting trial over allegations of financial misconduct.
Nissan will pay a $15 million civil penalty over false financial disclosures, the SEC announced. The charges come the same month the carmaker’s latest CEO resigned, along with its vice president of internal audit and chief compliance officer.
In a meeting this month, Nissan’s board of directors unanimously voted in favor of a transition from a company with statutory auditors to a company with three statutory committees.
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
