- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-02-26T20:35:00
Mattel announced it has received a subpoena from the Securities and Exchange Commission seeking documents related to a previously disclosed investigation that had uncovered accounting errors.
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The Securities and Exchange Commission fined Mattel $3.5 million for allegedly overstating tax expenses and initiated litigation against a former PwC partner accused of failing to inform the toy company’s audit committee about its financial statement errors.
Following an investigation spurred by a whistleblower letter, Mattel announced it has uncovered material weaknesses in its internal controls over financial reporting and is now working to remediate the issues.
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.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.
