Backdating news

07-Jul-2019 13:41

The company also said that correcting the problem would have no material effect on financial statements. Some 160 companies have been probed by the agencies or are conducting their own inquiries.A new study by three leading academics claims to establish a link between governance practices and questionably timed stock options to chief executives.The scandal also challenged people’s perception of Apple as “the good guys” and Jobs’ as a CEO who wasn’t money-hungry.(Over the next year, this perception that Apple was no longer a scrappy underdog fighting the establishment would again be challenged when Apple sought legal action against bloggers for reporting on the company’s trade secrets.) In the end, the SEC announced in April 2007 that it would not pursue a case against Apple — in part because the company had set up an internal investigation into the stock scandal so rapidly.Home Depot’s disclosure illustrates some of the problems encountered by auditors and special investigators in trying to uncover the right truth when it comes to archaeological accounting: “…Because of the absence of records prior to 1994, it is unclear whether allocations also postdated the selected grant dates from 1981 through 1993.Moreover, for many of these annual and quarterly grants from 1981 through December 2000, there is insufficient documentation to determine with certainty when the grants were actually authorized by a committee of the Board of Directors.It’s a nice bonus if the company has increased in value.(who broke the backdating story), Jobs was awarded 7.5 million shares approved at Apple’s August 29, 2001, board meeting. However, because Jobs continued to argue over the point at which they would vest, Apple missed the deadlines it needed to file the right information with the Securities and Exchange Commssion and its auditors.

backdating news-19

carbon dating the shroud

Shares of Home Depot slipped in early trading after the world's largest home improvement retailer said on Wednesday it had found almost 20 years of option grant backdating, resulting in about 0 million of unrecorded expenses.

Apple stock fell 9 percent based on the initial news about the scandal, although it didn’t take long for things to rebound. A shiny new product Jobs would show off for the first time less than two weeks later, in January 2007.

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