Category: Accounting

SEC Can’t Agree Regarding Penalty for Fraudulent Revenue Recognition

A settlement agreement has been reached In the Matter of Lynn R. Blodgett, Adm. Proc. File No. 3-16045 (August 28, 2014) despite internal dissent on the part of the Securities Exchange Committee (“SEC”) as to the appropriate penalty. The circumstances involve a financial fraud action against two executives at Affiliated Computer Services, Inc. (“ACS”), Lynn Blodget, the …

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