SEC Boosts Offshore Accounting Scrutiny, Fagel Says
Thursday, June 3, 2010 : PermalinkBloomberg – Securities and Exchange Commission investigators are increasing scrutiny of U.S. companies’ offshore operations amid concern that accounting controls may be too weak, the head of the agency’s San Francisco office said.
“Some of the old-fashioned revenue recognition and accounting fraud issues that we used to see here, we’re seeing in their offshore operations,” Marc J. Fagel said in an interview in San Francisco yesterday. “That’s a big theme.”
