Glaucus Research – Ozner Water International Holding Limited

http://blogs.wsj.com/moneybeat/2014/06/11/ozner-water-becomes-an-oddity-in-hong-kong-ipo-market/

Posted by Lin Liye, Year 4 undergrad at the School of Economics, Singapore Management University

Ozner Water Becomes an Oddity in Hong Kong IPO Market

For the first time since a state-owned auction house raised US$380 million in its February initial public offering, a Hong Kong listing candidate has managed to price its deal at the top end of an indicative range. Continue reading

How SEC’s New RoboCop Profiles Companies For Accounting Fraud

http://www.forbes.com/sites/janetnovack/2013/08/09/how-secs-new-robocop-profiles-companies-for-accounting-fraud/

Posted by Nureen CHAN Wan Wei , Year 4 undergrad at the School of Accountancy, Singapore Management University

Last November, Francine McKenna reported in Forbes magazine how a stretched Securities & Exchange Commission, embarrassed at having missed Bernie Madoff’s $65 billion Ponzi scheme, had “reorganized its enforcement division, eliminating an accounting-fraud task force and adding new units to pursue crooked investment advisors and asset managers, market manipulations and violations of the Foreign Corrupt Practices Act.” Forbes wondered whether the SEC might end up overlooking the next Enron. Turns out, we weren’t the only ones worried. In April, former federal prosecutor Mary Jo White was sworn in as chairman of the SEC and quickly made clear there would be a renewed emphasis at the agency on detecting and punishing accounting shenanigans. In July, the agency announced formation of a new Financial Reporting and Audit Task Force which would, among other things, be using a new Accounting Quality Model (a.k.a. RoboCop). Continue reading

One Of The World’s Most Infamous Short-Sellers Did An Awesome Presentation On How He Finds His Targets

http://www.businessinsider.sg/carson-block-muddy-waters-presentation-2014-9/#.VOIEYNH9kdW

Posted by Latha Do NADARAJAN , Year 3 undergrad at the School of Accountancy, Singapore Management University

Muddy Waters Research CEO/founder Carson Block spoke to accounting students at Baruch College on Wednesday afternoon about short-selling.

Block is famous for targeting Chinese companies he believes are frauds. Continue reading

[Flashback] A Research Firm Called This Internet Company A Ponzi Scheme, And Now Its Stock Is Getting Crushed

http://www.businessinsider.sg/21vianet-shares-fall-after-company-called-ponzi-scheme-2014-9/#.VOID-9H9kdV

Posted by Latha Do NADARAJAN , Year 3 undergrad at the School of Accountancy, Singapore Management University

Shares of 21Vianet were down as much as 30% on Wednesday after independent research firm Trinity Research Group published a dizzying 121-page report calling the company a Ponzi scheme.

The $1.2 billion company has recovered some of its market value in late-morning trading.

Trinity says it conducted, “a six-month investigation of 21 Vianet Group with an expanded team of local accountants, lawyers, telecom and Internet industry executives/insiders and VNET customers, partners and former employees.” Continue reading

[Flashback] The S.E.C. Is ‘Bringin’ Sexy Back’ to Accounting Investigations

http://dealbook.nytimes.com/2013/06/03/the-s-e-c-is-bringin-sexy-back-to-accounting-investigations/?_r=2

Posted by CHEN Liting, Year 3 undergrad at the School of Accountancy, Singapore Management University

In April 2003, a New York Times article discussed the push by federal prosecutors to crack down on accounting fraud in which one expert said, “These have become the hot, sexy cases.” Continue reading

SEC seeks information from Alibaba

http://www.ft.com/intl/cms/s/0/1c58d404-b3d2-11e4-a6c1-00144feab7de.html#axzz3RpYTLXrq

Posted by YEO Wei Lin, Year 3 undergrad at the School of Accountancy, Singapore Management University

Last updated: February 14, 2015 12:23 am

SEC seeks information from Alibaba

By Gina Chon in Washington

The US Securities and Exchange Commission has asked the Alibaba Group for information about its dealings with a Chinese regulator, which criticised the ecommerce company for inadequately policing its merchants for counterfeit goods. Continue reading

‘Nut rage’ case highlights governance concerns

http://country.eiu.com/article.aspx?articleid=492759433&Country=South%20Korea&topic=Economy

Posted by YEO Wei Lin, Year 3 undergrad at the School of Accountancy, Singapore Management University

On January 7th South Korean prosecutors indicted Cho Hyun­ah, a former vice­president of Korean Air Lines, on four charges over her widely publicised outburst over how nuts should be served on an plane. Irrespective of its outcome, the trial will mean many months of unflattering media coverage—at home and abroad—of South Korea’s family­run conglomerates, known as chaebol. This is a negative development for both the chaebol and the reliance upon them by the president, Park Geun­hye, as the main engines of economic growth and exports. Further, hints that other jailed tycoons may be freed to rescue the economy will stoke long­standing concerns about governance issues in South Korea. Continue reading

[Flashback] Petrochemicals latest China commodity to be hit by potential fraud

http://uk.reuters.com/article/2014/07/02/china-financing-oil-idUKL4N0P635J20140702

Posted by GOH Shuqi, Year 3 undergrad at the School of Accountancy, Singapore Management University

(Reuters) – Chinese petrochemical imports have become the latest commodity financing tool to come under investigation for possible fraud, highlighting the risks from the widespread use of raw materials as collateral to raise loans and skirt credit restrictions.

Continue reading