The Financial Reporting Council said in a statement Monday that the Big 4 firms have until October 23 to submit a plan for implementing “operational separation,” which will need to be completed by June 2024. The move is meant to ensure that audit practices are focused on “delivery of high-quality audits in the public interest,” […]
Mastercard (MA) and Visa (V) have informed some Wirecard clients that the firm’s access to their payment networks could be revoked, Bloomberg reported, citing people familiar with the matter.Neither credit card company commented directly on the report, but both...
Lu Zhengyao apologized this week for the scandal that has been plaguing the company once hailed as China’s homegrown rival to Starbucks (SBUX).Luckin (LK) admitted earlier this year that a good portion of its 2019 revenues were fabricated. Its shares collapsed...
Jenny Zhiya Qian was terminated on Monday, along with chief operating officer Jian Lu — the executive whom the company said last month was the architect of the fraud — according to a filing Luckin (LK) made with the Securities and Exchange Commission...
Shares of Luckin Coffee (LK) plunged 80% in early trading Thursday after the company disclosed in a regulatory filing with the Securities and Exchange Commission that its board had formed a committee to look into accounting irregularities.Luckin said in the filing...
