- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Following a string of accounting and reporting problems, Kraft Heinz Co. disclosed it is under investigation by the SEC and reported a $15.4 billion impairment charge.
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Kraft Heinz agreed to pay $62 million as part of a settlement with the SEC for improper accounting that led to the restatement of several years of financial reporting.
FASB is looking for input on how to address ongoing problems in the reporting of certain intangible assets, especially goodwill.
In a recently filed restatement, Kraft Heinz reduced its reported net income by $150 million going back to 2015 to correct employee misconduct in accounting.
