Toshiba covers itself for another accounting scandal

Stefan Mileschin · 5th January 2017, 11:04

Troubled electronics maker Toshiba seems likely to be sailing to yet another accounting scandal.

A security watchdog suspects the Japanese conglomerate has misreporting profits by $339.59 million over three years.

It seems that the beancounters at Tosh add up just as well as we do. Not only is the just the latest of misreporting of figures the outfit has admitted it may face a multi-billion dollar writedown over its US nuclear business.

The Asahi Shimbun newspaper reported that the Securities and Exchange Surveillance Commission would present allegations of accounting fraud to prosecutors, who had previously declined to investigate due to a lack of evidence.

http://www.techeye.net/business/tosh...unting-scandal

5th January 2017, 11:04	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,462	Toshiba covers itself for another accounting scandal Troubled electronics maker Toshiba seems likely to be sailing to yet another accounting scandal. A security watchdog suspects the Japanese conglomerate has misreporting profits by $339.59 million over three years. It seems that the beancounters at Tosh add up just as well as we do. Not only is the just the latest of misreporting of figures the outfit has admitted it may face a multi-billion dollar writedown over its US nuclear business. The Asahi Shimbun newspaper reported that the Securities and Exchange Surveillance Commission would present allegations of accounting fraud to prosecutors, who had previously declined to investigate due to a lack of evidence. http://www.techeye.net/business/tosh...unting-scandal

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