ST Alpha - "They basically made up numbers so that their earnings added up. -- nm" (Reading a Post)

SlickerTalk
Search Archives
The Leaderboard
The FAQ

Login
Create Account

Search Dr. S. Talk
TT/ST Wiki
How Well Do You Know ...

RSS Feed

Hosting by DigitalOcean

Support ST on Ko-Fi

Down to Post

Backboards:

Posts: 155

In response to ""intentionally not corrected" is the key phrase. Mistakes sometimes happen, but this sounds like a fraud -- nm" by Beaker

They basically made up numbers so that their earnings added up. -- nm

Posted by spamlet Oct 29 '14, 12:13

(No message)

Responses:

And somehow their controls didn't catch this? (Or did catch it and they let it go?) - ty97 Oct 29, 12:15 2
- I didn't notice in the article, did it say who their accounting firm was? (I say was as I'd wager they are toast too) -- nm - Beaker Oct 29, 12:16 1
  - In June, shareholders approved Grant Thornton as external auditor. Not sure if this was a change or a re-up of an existing relationship -- (link) - ty97 Oct 29, 12:20
isn't that a general practice in accounting ? -- nm - decline Oct 29, 12:14 2
- the experts call it "rounding" or "plugging" -- nm - Beaker Oct 29, 12:15
- No no, general practice is you take column A, shake it, and mix it with Column B until you're happy with the results. - Will Hunting Oct 29, 12:15

Post a message top

Replies are disabled on threads older than 7 days.