Fraudulent Financial Reporting: Diebold
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http://www.cfo.com/article.cfm/14502539?f=most_read
1. Do the pressures of living up to analyst's expectations encourage fraudulent financial reporting?
2. What are your thoughts on the guilt/innocence of the Diebold executives when the two different CFOs are accused and the company actually restates it earnings for several years?
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1. Do the pressures of living up to analyst's expectations encourage fraudulent financial reporting?
Yes due to these pressures, the finance executives of Diebold allegedly reworked the books to meet the earnings expectations after comparing the company's actual earnings with the analysts' projections. This includes fraudulent use of bill-and-hold accounting, improper recognition of lease-agreement revenue, manipulating reserves and accruals, fraudulently ...
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