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A hastily passed law known as Sarbanes-Oxley includes provisions for financial reporting that can cost millions of dollars to obey.
Nor is it bound by most of the strictures of financial reporting that make spending at Gates transparent and publicly accountable.
The case is reminiscent of another pending case, in which three executives of CUC International, including the former chief financial officer, have pleaded guilty to fraud charges stemming from false financial reporting that was discovered only after the company merged with HFS to form the Cendant Corporation.
Italian small innovative firms are characterized by a family capitalism which is inadequate to financial reporting that leads venture capitalists away from these firms.
Mr. Stack said G.E. was so explicit in its financial reporting that investors have the clarity they need.
"There were some aspects to the financial reporting that seemed to be aggressive, relative to their peers".
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Another area of I.B.M.'s financial report that is difficult to fathom concerns stock buybacks, which have totaled $14.2 billion in the past two years.
That day, Mr. Brown provided damaging testimony against all the Rigases, describing a variety of accounting gimmicks, sham transactions and phony financial reports that helped Adelphia mask the eroding financial performance that led to its filing for bankruptcy protection in June 2002.
The Securities and Exchange Commission filed securities fraud charges today against Robert A. Putnam, a former Arthur Andersen partner, accusing him of approving false financial reports that led to $9 billion in investor losses at the McKesson Corporation.
Among the misstatements or omissions by Harrisburg city officials were a 2008 audited financial report that did not mention a downgrade by Moody's Investors Service of Harrisburg's general obligation debt and a midyear financial report in 2009 that did not mention $2.3 million in debt guarantee payments for the incinerator, the S.E.C. said.
(AP) Judge Dismisses S.E.C. Complaint in Halliburton Case A judge has dismissed a complaint accusing the former chief financial officer of Halliburton of aiding and abetting the company in filing financial reports that did not promptly disclose a 1998 change in accounting procedures.
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