Day: January 12, 2015

Solar equipment maker Trony in the dark: A forensic review of energy equipment maker Trony’s accounts uncovers three sets of books with different figures and many unanswered questions

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http://www.scmp.com/print/business/companies/article/1678444/solar-equipment-maker-trony-dark

Solar equipment maker Trony in the dark

Monday, 12 January, 2015, 4:00am

Eric Ng eric.mpng@scmp.com

A forensic review of energy equipment maker Trony’s accounts uncovers three sets of books with different figures and many unanswered questions

Several sets of books with varying figures, missing computers, erased data, dubious clients and suppliers – the irregularities at Trony Solar Holdings [1], whose shares were suspended from trading in June 2012 – are the stuff of a regulator’s nightmare. Continue reading →

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Deloitte faces scrutiny over audit of collapsed aerospace group Aero Inventory, an aircraft parts wholesaler that went into administration in 2009

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http://www.telegraph.co.uk/finance/financial-crime/11340749/Deloitte-faces-scrutiny-over-audit-of-collapsed-aerospace-group.html

http://www.ft.com/intl/cms/s/0/94637dae-9a56-11e4-9602-00144feabdc0.html#axzz3OcnQegKC

Deloitte faces scrutiny over audit of collapsed aerospace group

Big Four accountant Deloitte to face disciplinary panel over audits of collapsed aircraft parts supplier Aero Inventory

Collapsed Aim business Aero Inventory supplied parts for aircraft engines

By Alan Tovey, Industry Editor

5:13PM GMT 12 Jan 2015

Accountancy firm Deloitte is to appear before the industry regulator over its role in events leading up to the collapse of Aero Inventory, an aircraft parts supplier.

The firm, one of the so-called ‘Big Four’ firms, audited the former Aim-listed darling’s books for the three years before the company went into administration in 2009, after lenders refused to support the business because of concerns about the valuation of its inventory. Continue reading →

[Flashback] Tesco shares could plunge to 140p amid jitters over lengthy fraud probes

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http://www.ibtimes.co.uk/tesco-shares-could-plunge-140p-amid-jitters-over-lengthy-fraud-probes-1478714

Posted by Shaun CHEW, Year 4 undergrad at the School of Accountancy, Singapore Management University

Tesco shares have fallen to a 12-year low, but some analysts say that the embattled grocer’s stockprice could fall further. According to a range of analysts, Tesco shares are being sold-off as investors worry over why fraud investigations are taking so long to come to a conclusion. Continue reading →

Guest Speaker from FTI Consulting, a billion-dollar NYSE-listed global forensic consulting firm, in SMU course Accounting Fraud in Asia

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We are very honored to be able to invite the Senior Managing Director of FTI Consulting (FCN US, MV $1.5bn), a billion-dollar NYSE-listed global forensic consulting firm, as a guest speaker in our SMU classes in the Accounting Fraud in Asia course in Week 6, the week of 9th February. Over the years in the Asian capital jungles, the FTI people are amongst the few professionals whom I respect for their on-the-field expertise and thought leadership in the area of fraud and forensic investigation. I am sure that the talk will definitely make an impact for our SMU students who will learn not only invaluable lessons from the speaker’s knowledge and wisdom but also about FTI Consulting as their future choice of a long-term fulfilling career.

Continue reading →